News

2017-05-24
The President of Ukraine with his Decree No. 133/2017 enacted a Decision of the National Security and Defense Council of Ukraine (NSDC) dated 28 April 2017 regarding the application of personal special economic and other restrictive measures (sanctions) became effective as of 17 May. The NSDC's Decision extended previous sanctions against Russia and introduced new ones, inter alia, against companies providing services of Mail.ru, Yandex, Kaspersky Lab, and DrWeb, as well as the 1C accounting software developer. On top of that, Internet providers have been obliged to block access to Odnoklass...
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2017-05-15
The EMBASSY OF UKRAINE in the REPUBLIC OF POLAND jointly with the leading Polish law firm Domański Zakrzewski Palinka sp. k. together with the leading Ukrainian law firm SDM Partners is going to organize the business breakfast on DOING BUSINESS IN UKRAINE. CHALLENGES AND OPPORTUNITIES on 19 May in Warsaw....
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2017-05-15
Dmytro Syrota on vulnerability of banking secrecy in Ukraine for minfin.com.ua....
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2017-05-15
Viktoriia Gryniuk on the procedure of dismissing the NBU head Valeriya Gontareva for minfin.com.ua....
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2017-04-26
Starting from 2018, the SFS shall execute annual schedules for planned documentary audits of taxpayers. The annual schedule to be published on the official website of the SFS of Ukraine until 25 December of the year, preceding the year of audits. The schedule might be subject to adjustment if required by the local SFS authorities. The draft schedule shall be drawn up by the SFS authorities not later than on 1 December of the year, preceding the year of audits, and require no approval of the state financial control authorities. Whilst forming the annual schedule for next year, indicators as ...
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2017-04-24
All laws and resolutions of ministries and authorities adopted before Ukrainian independence was declared in 1991 might be subject to revocation. The said was initiated by the Ministry of Justice of Ukraine. The Ministry of Justice states there are too many regulatory acts adopted by the former USSR authorities, creating obstacles to business. In this respect, the Ministry of Justice drafted a Law on recognizing regulatory acts adopted by the Soviet Union authorities as terminated. According thereto, all related acts of ministries, departments, presidiums, and commissions, issued before 24 A...
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2017-04-21
The National Bank of Ukraine moves ahead with gradual easing of temporary FX restrictions, the relaxation of which will not have a destabilizing impact on the interbank and cash segments of the FX market. The NBU eased surrender requirements for foreign exchange proceeds from exports from 65% to 50%. This move primarily aims to promote export activities of Ukrainian enterprises that need to import components to produce their products that are subsequently exported. This will make it possible to reduce the FX risk exposure faced by these enterprises, and enable them to speed up foreign trade o...
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2017-04-19
The Pension Fund of Ukraine has announced the electronic employment record books introduction. The service is currently under development, and the first launch is scheduled for autumn 2017. The electronic employment record book shall be integrated to the Register of Insured Persons. For the purpose of the Register to completely replace a paper employment record book, the data thereof to be supplemented with the position of an employee. Persons started employment before 2000 shall keep their paper employment record books to be able to confirm the duration of work. The Draft Law suggesting ca...
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2017-04-17
The state support is now focused on investment projects implementation, and will be carried out at the expense of the state budget exclusively. The mechanism for selecting investment projects to state support thereof is also simplified. Investors are no longer required to develop investment proposals, and register them with the state. In addition, the role of the State Register of Investment Projects was changed from permissive to informative. Information that allows the monitoring of ongoing projects implementation will be included thereto. Being guided by the data recorded to the Register,...
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2017-04-17
Legal requirements on the mandatory use of seals (regardless of whether business entities hold them or not), necessity of seals applying in relation between business entities and public authorities, as well as provisions on a document annulment (recognition thereof as null or void) if not sealed, they are cancelled. Also, officials shall be held administratively liable (fine from 50 to 100 non-taxable minimum incomes) for the requirement to have the document submitted to the state or local authority sealed. The Law "On Amendments to the Certain Legislative Acts of Ukraine regarding the Use o...
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