Ukraine Establishes Liability of Legal Entities for Acts of Corruption
The Ukrainian Law on the Liability of Legal Entities for Committing Corruption-Related Offences becomes effective on April 1, 2010.
Ukraine Opens Up to Foreign Judicial and Arbitral Awards
On 16 February 2010 the Law of Ukraine “On Amendments to Certain Legislative Acts on Private International Law Issues” entered into force.
Protocol on Administrative Offence Following a Tax Audit: Risks for the Company
The Code of Administrative Offences of Ukraine (CAOU)provides for administrative fines for the violation of:
200% Fine for Abuse of Tax Incentives
Effective 1 January 2010 new 200% fine for the abuse of tax incentives is being applied in accordance with amendments to the Law of Ukraine “On Settlement of Tax Liabilities”
Validity of Tax Gross-Up Clauses Questioned
State Tax Administration of Ukraine Questions Validity of Tax Gross-Up Clauses Widely Employed in Cross-Border Finance Arrangements
Rules for the Reorganization of Commercial Banks in Ukraine Simplified
Starting from 21 December 2009, the rules for the reorganization of commercial banks have been simplified by Resolution No. 683 of the Board of the National Bank of Ukraine (the “NBU”), adopted on 18 November 2009, which introduced amendments (the “Amendments”) to NBU Regulation No. 189 “On the Reorganization of a Bank Pursuant to the Decision of Its Owner”, dated 27 June 2008 (the “Regulation”). The Amendments are aimed at bringing the Regulation into conformity with the latest legislative changes relating to financial recovery of commercial banks and with the requirements of the Law of Ukraine “On Joint Stock Companies” (the “JSC Law”).
Ukrainian Parliament Introduces Amendments to a Number of Laws
Ukrainian Parliament Introduces Amendments to a Number of Laws Regarding the Simplification of the Procedure for the Acquisition and Realization of Rights to Land
New Anti-Crisis Legislation Tightens Up Ukrainian Currency Control Rules
Law of Ukraine No. 1533-VI, dated 23 June 2009, "On the Introduction of Amendments to Certain Laws of Ukraine for Overcoming the Negative Consequences of the Financial Crisis" (the "Law") became effective on 24 November 2009. The Law introduced a number of important changes into the Ukrainian currency control regime in respect of cross-border foreign currency loans from foreign lenders to Ukrainian borrowers; the procedure for foreign investments in Ukraine; and the procedure for settlements under export-import transactions.
Ukraine: Restrictions To Be Imposed on Prices for Imported Pharmaceuticals
On 20 October 2009, the Ukrainian Parliament approved in final reading the Law on the Moratorium on the Increase of Prices for Pharmaceuticals and Medical Products.
Ukrainian IP Legislation has Drawn Closer to World Standards
On the request of the Ministry of the Economy of Japan, which is in charge of issues on intellectual property in the member-nations of the WTO and candidates to it, Magisters conducted a detailed analysis of Ukrainian legislation and law enforcement practice.