Between 28 January and 2 February 2021, the president of Ukraine enacted1 three decisions of the National Security and Defense Council of Ukraine (“Sanctions Decisions”) imposing personal special economic and other restrictive measures (sanctions).
In response to opening the consulate of the Republic of Nicaragua in the temporarily occupied Crimea, on 2 February 2021 the Parliament of Ukraine for the first time in its history approved sectoral sanctions against the Republic of Nicaragua (“Sectoral Sanctions”).
On December 28, 2020, the US Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a final rule amending…
In an effort to help expand opportunities for businesses and individuals to hedge currency risks, the National Bank of Ukraine has updated its foreign exchange regulations and eased certain restrictions concerning derivative transactions.
Starting from 17 January 2021, Ukrainian banks are permitted to exchange Ukrainian hryvnia (UAH) for foreign currency under forward transactions with all their clients.
On 23 May 2020, the Law of Ukraine “On Amendments to the Tax Code of Ukraine Purposed to Improve the Administration of Taxes, Eliminate Technical and Logical Inconsistencies in the Tax Legislation” (“Anti-BEPS Law”) became effective with certain provisions being phased out.
At the same time, certain provisions of the Anti-BEPS Law have called for the extension of their entry into force or elaboration thereof.
To this end, on 14 July 2020, the Parliament of Ukraine passed Law of Ukraine No. 786-IX “On Amendments to the Tax Code of Ukraine with respect to Functioning of the Electronic Cabinet and Simplification of Work of Private Entrepreneurs”, which entered into force on 8 August 2020.
In addition, on 17 December 2020, the Parliament of Ukraine adopted the Law of Ukraine “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine to Ensure the Collection of Data and Information Required for Reporting of Certain Income Subject to Taxation” (“Amending Law”).
On 1 January 2021, the Amending Law became effective.
In brief On 16 December 2020, Verkhovna Rada (Parliament) of Ukraine ratified the Protocol amending the 1997 Tax…
The pandemic has impacted our lives in many ways, but for many of us, one of the most affected areas has certainly been work. COVID-19 has indeed led to an unprecedented need and demand for remote working. In recent months, many people have been forced or have chosen to work…
As of 19 October 2020, the changes to the Bankruptcy Code of Ukraine became effective.
Regulators around the world are responding quickly to the rapidly evolving financial technology, or fintech, landscape. As new…
In brief On 23 May 2020, the Law of Ukraine “On Amendments to the Tax Code of Ukraine Purposed to Improve the Administration of Taxes, Eliminate Technical and Logical Inconsistencies in the Tax Legislation” (‘Anti-BEPS Law’) became effective with certain provisions being phased out. At the same time, certain provisions…