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New Tax Circulars
Recently Ukrainian State Tax Service (STSU) published a number of tax circulars containing STSU's interpretations of the tax law. The above circulars cover a variety of issues. Some of the key points are as follows:
Royalties decrease in 2012
On 13 January 2012 the Law of Ukraine "On Amending the Tax Code of Ukraine Regarding Review of Certain Tax and Duties Rates"(the "Amendments") became effective. The Amendments change the procedure for calculation of adjustment index used for royalties' calculation.
Enhanced deduction for corporate expenses on research and development
Sweden is - in relative terms - one of the leading countries in the world within research and development. Most part of research and development in Sweden is financed by the industry, with a total contribution of 83 billion SEK in 2007.
New Ukrainian list of designated offshore jurisdictions does not include Cyprus
The Ukrainian government has published the list of designated offshore jurisdictions to be used for Ukrainian tax purposes under the Tax Code, which takes effect on 1 April 2011. Payments by Ukrainian residents for the benefit of entities registered in these jurisdictions are not fully tax-deductible.
Ukraine: New Taxation Regime for Insurance Companies under the Tax Code
The Parliament of Ukraine has adopted the new Tax Code of Ukraine (the Tax Code), which became effective on 1 January 2011. However, the section of the Tax Code on the corporate profit tax containing important tax novelties will come into force on 1 April 2011.Ukraine: New Taxation Regime for Insurance Companies under the Tax Code
News Analysis: A Closer Look at the Luxembourg-Qatar Tax Treaty
The Luxembourg-Qatar tax treaty, which was signed on July 3, 2009, and is generally based on the OECD model tax convention, came into force on April 9. This article will discuss the main features of the treaty. (For prior coverage, see Doc 2010-9902 or 2010 WTD 86-9; for the French text of the treaty, see Doc 2009-21556.)
Taxation in Ukraine: Major Developments In 2010
It has become a tradition in Ukraine when approval of the annual state budget law is followed by amendments to Ukrainian tax laws. This process usually takes place in late December each year. This year, however, the state budgeting process was completed only in April in the wake of presidential elections, formation of the new parliamentary coalition and appointment of the new government.