Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 12/19/2012

Ukraine - Excise tax imposed on sales of securities, derivatives  

December 19: Ukraine’s parliament (Verkhovna Rada) passed measures to impose an excise tax on sale transactions of securities and of derivates. Enactment of the legislation is pending approval by the chairman of the parliament and signature by the president.

In general, the rate of the excise tax would be 1.5% of the amount of the securities’ transaction value.


The new legislation also provides for a 10% reduction in the corporate income taxation relating to amounts realized on trades of securities and derivatives.


Read a December 2012 report [PDF 94 KB] prepared by the KPMG member firm in Ukraine: Financial Services Bulletin


Other topics addressed in the KPMG report concern rules issued by the National Bank of Ukraine on consolidated statements by banking groups, rules requiring companies to dispose of half of their export earnings and reducing the period for settlements under cross-border contracts, and rules on foreign currency loans.




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