Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/31/2013

Ukraine - Electronic reporting of sales; VAT on intellectual property 

July 31: In Ukraine, a new law delays the effective date requiring electronic reporting of certain sales information until 1 January 2014.

The new provisions impose liability on businesses that fail to transmit certain mandatory reports electronically to the Ukraine tax service with respect to the use of registers of settlement transactions, settlement books and copies of payment documents, and fiscal receipts from the registers of settlement transactions.


Read a July 2013 report [PDF 73 KB] prepared by the KPMG member firm in Ukraine: Tax News (July 2013)


Other indirect tax developments concern:


  • The value added tax (VAT) treatment of transactions involving intellectual property
  • A draft law concerning a 7% rate of VAT on supplies of pharmaceuticals and medical goods

Concerning income tax treaties in the Ukraine treaty network:


  • The president signed the income tax treaty between Ukraine and Cyprus, thus completing the ratification process in Ukraine.
  • Representatives of Ukraine and Malta signed an income tax treaty.



©2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now