New Corporate Profits Tax Law
The official text of the new Corporate Profits Tax Law dated 22 May 1997 was published on 12 June 1997. The new corporate profits taxation regime will be introduced with effect from 1 July 1997.
With regard to government securities the new taxation regime will apply in respect of securities purchased after 1 July 1997.
The main changes are in corporate profits tax regime are detailed below.
Definition of permanent establishment
The new Law provides that a permanent establishment of a foreign company is deemed to be created in Ukraine where:
- a foreign company carries on commercial activities through a representation; and/or
- a foreign company is represented in Ukraine by an individual who is authorised to represent the company's interests in Ukraine; and/or
