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In Europe

Ukraine: Movement to elaborate the Anti-BEPS Law

by and 6 Mins Read

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.

Separately, the President of Ukraine referred to the Cabinet of Ministers with a number of recommendations purposed to enhance the Anti-BEPS Law concerning, inter alia, the CFC Rules, protection of data reported by taxpayers and obtained from the foreign jurisdictions.

To this end, on 14 July 2020, the Parliament of Ukraine passed Law 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” (‘Amending Law’). On 8 August 2020, the Amending Law entered into force.

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In CSR

Ukraine: New rules of the game for renewables in Ukraine

by 5 Mins Read

On 31 July 2020, the President of Ukraine has signed the long-awaited law of Ukraine No. 810 “On Amendments to Certain Laws of Ukraine related to Improvements of the Terms of Support for Production of Electricity from Renewables Energy Sources” (“Law”).

Effective from 1 August 2020, the adjusted Feed-in-Tariff rates will apply to the renewable energy projects (“REP”) in Ukraine. To see the Feed-in-Tariff (“FiT”) rates please follow the link here.

For the REPs commissioned before 30 June 2015, the FiT cap of EUR 24.56 KW/h will apply.

WPPs with up to three wind turbines (irrespective of the capacity) are not any longer eligible for FiT.

In CSR

Ukraine: State support for large investment projects

by and 5 Mins Read

On 21 July 2020, Ukraine’s parliament, the Verkhovna Rada of Ukraine, passed in the first reading a Draft Law No. 3760 “On State Support for Investment Projects with Significant Investments” (“Draft Law”). The Draft Law was proposed by the President of Ukraine as part of his investment promotion agenda and is aimed at enabling state support for major investments in Ukraine.

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