• Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 8/30/2013

Ukraine - Investments providing exemption from corporate tax advance payments 

August 30:  New law in Ukraine provides relief from the rules for advance payments of corporate income tax for business entities that implement certain investment projects in 2013.

Also, there are new measures that delay the time for disclosure of tax differences in financial reporting, from 2013 to 2014.

These measures are effective 1 September 2013.

Read an August 2013 report [PDF 90 KB] prepared by the KPMG member firm in Ukraine: Tax News (August 2013).

The KPMG report also describes:

  • Rules for the inclusion of the advance corporate income tax payments remitted on dividend distributions
  • A decrease in the prime interest rate by the National Bank of Ukraine
  • Measures for determining customs valuation of goods
  • Determination of income and expenses during a reorganization (spin-off)
  • Draft legislation proposed to increase the rates of excise tax on vehicles, and on plots of land that are not “monetarily valued”

Criminal liability for wrongdoings by authorized persons

Among recent developments in Ukraine is a new law that holds legal entities (corporations) criminally liable for wrongdoings of their authorized persons.

Read an August 2013 report [PDF 67 KB] prepared by the KPMG member firm in Ukraine: Legal Alert (August 2013)

Pharma news

An order issued by Ukraine’s healthcare ministry prohibits advertising for 300 over-the-counter medicines. The new order reflects a reduction in the number of items for which the advertising prohibition applies. Previously, the number was 307 over-the-counter items.

Read an August 2013 report [PDF 68 KB] prepared by the KPMG member firm in Ukraine: Pharma Bulletin (August 2013)

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