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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by GOLAW

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The Parliament of Ukraine ratified the MLI Convention. Is this the end of offshores?

March 2019 - Tax & Private Client. Legal Developments by GOLAW.

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“Ukraine will never join BEPS and will not introduce an automatic exchange of tax information! Ukrainian tax authorities are not able to understand the international tax planning and therefore BEPS will not work in Ukraine!” - such statements in different variations repeatedly sounded addressing the deoffshorization process launched in Ukraine a few years ago.

Indeed, earlier there were grounds for such thoughts, but now it is clear that all this does not match the reality. Particular evidence is ratification by the Verkhovna Rada of Ukraine on February 28, 2019, of the Multilateral Convention to Implement Tax Treaty Related Measures, which was signed back in July 2018, in order to counteract the tax base erosion and profit shifting (hereinafter referred to as the “MLI Convention”).

Cancellation of the "green" tariff: international practice of protecting the rights of foreign inves

February 2019 - Corporate & Commercial. Legal Developments by GOLAW.

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Perhaps the hottest topic in the energy sector at the end of 2018 and early this year is the discussion of changes to the approaches of providing state support for electric power producers from renewable sources. The main idea of the change is that, starting from 2020, new players of the RES market will be subject to a new incentive system - "auctions" instead of the "green" tariff. 

BANKABLE PPA: A NEW VERSION FROM THE REGULATOR

February 2019 - Projects, Energy & Natural Resources. Legal Developments by GOLAW.

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A power purchase agreement or PPA is one of the core documents needed for the purchase of electricity produced by a power plant.

​HOW RISKY A TAXPAYER ARE YOU?

February 2019 - Tax & Private Client. Legal Developments by GOLAW.

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A new blocking system for tax invoices, along with a new procedure for suspending the registration of tax invoices in the Unified Register of Tax Invoices, has been in operation since March 2018 in Ukraine. According to the new procedure, established under Cabinet of Ministers of Ukraine resolution â„– 117 of Feb. 21, 2018, the registration of tax invoices is suspended when such invoices meet the risk criteria of the transaction, or when the taxpayer meets the risk criteria set for taxpayers.

NEW INSTRUMENTS OF CORPORATE SECURITY UNDER THE NEW LAW ON LLCS

February 2019 - Corporate & Commercial. Legal Developments by GOLAW.

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Strong oversight of corporate security and risk-taking is surely one of the most critical component of companies’ management process. We are no longer talking about whether or not boards should implement corporate governance and compliance policies: in the current climate we are grappling with the issue of all-round companies’ protection, which raises a much more meaningful set of questions.

RESPONSIBILITY OF OFFICIALS UNDER THE NEW LAW ON LLC

October 2018 - Corporate & Commercial. Legal Developments by GOLAW.

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Officials of the company according to the new Law on LLC shall bear joint and several and in some cases – subsidiary liability to the company.

Employing Foreign Specialists in Ukraine – Rules of the Game Have Been Simplified?

July 2018 - Employment. Legal Developments by GOLAW.

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Following the strategy of the Government to improve the doing business climate in Ukraine, Parliament adopted the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine Concerning Elimination of Barriers for Foreign Investments Attraction” dated May 23, 2017 (hereinafter – “the Law”), which came into force on September 27, 2017.  The Law with such an expressive name should have definitely removed the barriers for employment of foreigners, but what have we actually received? Putting the cart before the horse, the Law really significantly changed the procedure of obtaining work permits (hereinafter – “the Permit”) facilitating it essentially from the one hand, but introducing some questionable conditions from the other.

The Code of bankruptcy procedure in Ukraine: positives and negatives of the new document

May 2018 - Litigation & Dispute Resolution. Legal Developments by GOLAW.

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The Verkhovna Rada registered a draft law on the Code of Bankruptcy Procedure (No. 8060). Among other things, it is noted that such a document will increase the efficiency of bankruptcy procedures, the level of protection of the rights of creditors, improve the procedures for selling debtor property at the auction, increase the level of execution of contracts and court decisions. However, does the text of the document correspond to the stated purpose? 

CHANGES TO PPA: TO MAKE FINANCIAERS HAPPY

May 2018 - Projects, Energy & Natural Resources. Legal Developments by GOLAW.

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Over the last few months before January 2018, when the latest changes to the power purchase agreements (PPAs) between State Enterprise “Energorynok” and producers of energy from alternative sources were adopted, more than ten agreements were signed with upgraded conditions set earlier in 2017. In the mentioned agreements, the changes to the PPAs were applied and helped bring Ukraine’s PPAs closer to international standards. Nevertheless, the revised PPAs still have a lot of issues that need to be clarified and further elaborated to make them perfectly bankable, and to make them properly executable.