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Ukrainian businesses with foreign bank accounts face specific reporting obligations to the National Bank of Ukraine (NBU). Understanding when these requirements apply, what information must be disclosed, and how to comply with statistical reporting rules is essential for companies operating across borders.

On 31 March 2014, Law of Ukraine "On preventing financial catastrophe and creating grounds for economic growth in Ukraine" No. 1166-VII dated 27 March 2014 came into effect.

The Ukrainian Parliament has amended the Corporate Income Tax (CIT) Law regarding the taxation of dividends.

The tax treatment of foreign exchange gains and losses incurred by Ukrainian insurers has been clarified by the state tax administration.

By its letter No. 9993/7/15-1417 dd. 05.04.2012 "On Providing a Consultation" the State Tax Service clarified the application of penalties for violations of law concerning the application of paragraph 6 subsection 10 section XX of the Tax Code of Ukraine

A number of recent tax developments in Ukraine and Russia underline the need for proper planning, documentation and execution of transactions.

The Law of Ukraine # 63-VIII "On Amendments to the Tax Code of Ukraine concerning the Features of Corrections to the Tax Liabilities of Corporate Income Tax and Value Added Tax in the Case of Application of the Tax Compromise" took force of 17 January 2015

Companies calculating depreciation for corporate profits tax may increase the book values of their fixed and intangible assets to mitigate the effect of annual inflation for the previous year.

Looks like the Yanukovich government is finally turning its attention to the Ukrainian taxpayer (physical and legal entities alike).

On 24 May 2012 the Ukrainian MPs adopted the package of Laws of Ukraine aiming at encouraging the development and boosting the global competitiveness of Ukrainian IT industry ("the Laws").

Tax and other incentives to promote the use of biofuels are being introduced under legislation passed by Parliament.

From 1 September 2013, new transfer pricing rules were introduced into Ukraine's Tax Code.