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New visa rules adopted by Ukrainian government
Since September 7
The Rules stated above completely change the earlier gradation of visas for foreign citizens or stateless persons who are working, residing or visiting
However, it retained the previously applicable regime of "no visa regime" for the citizens of the European Union, the
Also the clause that citizens of some countries (including the
Starting from September there will be only 3 types of visas: B (or VB, transit visa); C (or VC, short term visa), D (or VD, long term visa) compared to 16 that existed. The New Regulation act has established a single list of documents to be provided for visa issuance as well as their prices comparing to the different lists and different prices from consulate to consulate and from country to country.
Visa type C (short term Visa, VC)
C visa will provide the right for a foreign citizen to enter
This type of visa will be issued on the basis of one of the following documents:
§ documents confirming family relationship with the person who holds a temporary or permanent residence certificate in
§ application from the Ukrainian citizen or legal entity which is registered with OVIR (equivalent to current B visa);
§ documents confirming that the foreign citizen is a co-founder of a Ukrainian joint enterprise or company’s representative who enters
§ invitation from medical treatment facilities;
§ certification of indigenous people of
§ documents confirming the tourist purpose of the visit;
§ other documents provided by the Rules or International treaties.
Visa type D (Long term Visa, VD)
The D visa will be given for a period of 45 days and will be the only basis on which a foreign citizen may apply for a temporary residence certificate which provides the right to stay in
The most significant change is the introduction of visa type D which will be given to all foreign citizens who have one of the following documents:
§ work permit;
§ immigration permit;
§ permit that allows to give a visa for refugee’s family;
§ invitation issued by the governmental entity which is recipient of international technical aid (equivalent to current visa type C-3);
§ invitation of a Ukrainian representative office of international non governmental organization (equivalent to current visa type C-3 or G);
§ invitation from
§ invitation from a representative office registered in
§ other basis which are not related to the commercial activity.
Under the amendments introduced by the New Regulations foreign citizens holding the above mentioned documents and therefore D visa are obliged to receive a temporary residence certificate. We would like to remind you that as of today foreign citizens working in the representative office of foreign companies and/or banks (which hold a type B visa) may not apply for a temporary residence certificate and theoretically should be registered with migration authorities every 90 days. After the New Regulation comes into a force only one registration per year will be required.
Visa Type B (Transit Visa, VB)
The B visa will be given for the period of 15 days for one transit but still can be single, two times and multi. On other hand this visa works only within a year.
Single visas regardless of its type will cost 85 US Dollars, two times – 130 US Dollars and multi ones – 200 US Dollars. Prices can be changed according to international treaties of
Зміни до Податкового кодексу України: повернено ПДВ консультаційним, юридичним, бухгалтерським послугам, послугам сфери інформатизацій (та ін. з пп."в" п. 186.3 ПКУ)
Рубрика: НовостиДата: 01/07/2011 14:57:28
Зміни до Податкового кодексу України: повернено ПДВ консультаційним, юридичним, бухгалтерським послугам, послугам сфери інформатизацій (та ін. з пп."в" п. 186.3 ПКУ)
19.05.2011 прийнято Закон УкраЇни “Про внесення змін до Податкового кодексу України та затвердження ставок вивізного (експортного) мита на деякі види зернових культур” № 3230-VI від 19.04.2011, 10.06.2011 Закон повернуто з підписом від Президента, а 17.06.2011 офіційно опублікувано в Урядовому кур’єрі N 109. Тому з 1.07.2011 є об’єктом оподаткування ПДВ: консультаційні, інжинірингові, інженерні, юридичні (у тому числі адвокатські), бухгалтерські, аудиторські, актуарні та інші подібні послуги консультаційного характеру, а також послуги з розроблення, постачання та тестування програмного забезпечення, з оброблення даних та надання консультацій з питань інформатизації, надання інформації та інших послуг у сфері інформатизації, у тому числі з використанням комп’ютерних систем
Витяг з цього Закону:
Верховна Рада України п о с т а н о в л я є:
І. Внести до Податкового кодексу України такі зміни:
1. Підпункт 196.1.14 пункту 196.1 статті 196 виключити<…>
Джерело: http://zakon1.rada.gov.ua/cgi-bin/laws/main.cgi?nreg=3387-17
Нагадаємо:
196.1. Не є об’єктом оподаткування операції з:
196.1.14. постачання послуг, визначених у підпункті “в” пункту 186.3 статті 186 цього Кодексу.
186.3 в) консультаційні, інжинірингові, інженерні, юридичні (у тому числі адвокатські), бухгалтерські, аудиторські, актуарні та інші подібні послуги консультаційного характеру, а також послуги з розроблення, постачання та тестування програмного забезпечення, з оброблення даних та надання консультацій з питань інформатизації, надання інформації та інших послуг у сфері інформатизації, у тому числі з використанням комп’ютерних систем;
Джерело: Податковий кодекс України
New Tax Code Adopted by the Ukrainian Parliament
New Tax Code will come into effect on 1 January 2011.
The text of the Code contains strong points, such as the reduction of the rate of or even exemption from some taxes for certain taxpayers, as well as sensitive points which are considered by some commentators either as disadvantageous in comparison with the current situation or as likely to lead to ambiguities.
It should be stressed that the Code has strong political and social ramifications, as evidenced in the protests by SME (small and medium enterprises) representatives outside Parliament due to fears about deteriorations in their fiscal situation. As a result, the entire Chapter introducing a new, by far less favorable, simplified taxation system was dropped from the final draft of the New Tax Code. Therefore, the existing simplified taxation and accounting system is here to stay for the time being. However, the President stressed that a new version of Section 1 of Chapter XIV regulating the simplified taxation system will be adopted in the foreseeable future.
STRONG POINTS
The following strong points of the new Code should be highlighted:
- A political will to reduce some tax rates;
- Banning the practice of tax authorities refusing to accept documents related to tax return;
- The possibility for each legal entity to ask the tax authorities for written or oral opinions.
- The opinion is valid for a specific case; a legal entity cannot be sanctioned if it acts in compliance with such an opinion.
Decreases in tax rates
Corporate profits tax (CPT)
(a) The CPT rate will be decreased progressively from 25% to 16% as follows:
- 23% from 1 April 2011
- 21% from 1 January 2012
- 19% from 1 January 2013
- 16% from 1 January 2014
(b) From 1 April 2011 to 1 January
- Existing legal entities which, during the three preceding years, had an annual turnover of less than UAH 3 million UAH and which employed at least 20 persons.
- Legal entities which satisfy the same criteria (turnover of less than UAH 3 million and at least 20 employees) and which are created after 1 April 2011, except those legal entities which are created through reorganisation, privatisation or purchase.
- Legal entities – payers of a single tax with annual turnover not exceeding UAH 1 million and employing not more than 50 persons.
(c) During the ten year period, starting from the 1 January 2011, the following legal entities will benefit from the 0% CPT rate:
- 3, 4, and 5 star hotels;
- legal entities in the sphere of light industry;
- ship and aircraft manufacturers.
(d) Legal entities specialising in the field of alternative energies will benefit from an 80% exemption of the CPT during ten years starting from 1 January 2011.
(e) Humanitarian aid will be totally exempt from the CPT.
(f) Total exemption of financial aid given by a mother company and which should be repaid over 12 months.
Value added tax (VAT)
The following points related to VAT should be highlighted:
(a) The tax rate is reduced from 20% to 17% with effect from 1 January
(b) A legal entity must be registered as a VAT payer if the aggregate amount from transactions relating to supply of goods/services, which are subject to VAT, accrued (paid) to such person during the last 12 calendar months exceeds UAH 300,000 (excluding the value added tax).
(c) A legal entity may ask to be registered as a VAT payer if at least 50% of the goods or services produced are supplied to persons who are VAT payers.
(d) VAT is applied to a transfer price which should not be less than the market price.
(e) Reorganisation of legal entities will not lead to VAT consequences.
(f) In order to report VAT credit, VAT invoices can be included in VAT input only within 12 months from the date of their issuance.
(g) The validity of VAT invoices is subject to their registration by the seller/supplier into the Unified Register of VAT invoices. This obligation is introduced gradually as follows:
- VAT invoices of more than UAH 1 million shall be registered from 1 January 2011;
- VAT invoices of more than UAH 500,000- from 1 April 2011;
- VAT invoices of more than UAH 100,000– from 1 July 2011;
- VAT invoices of more than UAH 10, 000– from 1 January 2012.
(h) In order to benefit from a VAT refund, the person should be registered as a VAT taxpayer at least 12 months prior to the reimbursement date.
(i) An automatic VAT refund procedure is introduced in respect of some eligible taxpayers.
Personal income tax
(a) The Code introduces a new term of "tax resident" applicable to foreign persons in such cases:
- If they receive a permanent residence permit;
- If they receive a working permit;
- If they spend at least 183 days in
- If they register as private entrepreneurs.
(b) Residents and non-residents are taxed at 15%. However, income above ten minimum monthly wages (currently UAH 9,220) is taxed at 17%.
(c) Income from the sale of one object of immovable property per year is exempt from tax.
(d) Income from the sale of one car or motorbike per year is exempt from tax.
Decrease in fine rates
It should be noted that the Code foresees a symbolic amount of the UAH 1 fine applicable from 1 January to 30 June 2011 for the breach of its provisions. However, there remain criminal and administrative sanctions.
We can conclude from the general decrease in fine rates that the minimal fine rate does not exceed a 75% rate instead of a 200% rate which existed before the new Code. Sanctions for a breach of tax rules can be applied during 1,095 days (i.e. 3 years) after a deadline for a tax return submission.
(a) The fine rates vary between UAH 85 and 1700. The amounts add up in cases of two or more violations.
(b) In cases when a taxpayer himself corrects the mistakes concerning taxes related to previous fiscal periods, the fine rates will be as follows:
- 3% of a tax amount if the mistake is corrected before the tax authorities are notified about the mistake;
- 5% of a tax amount if the mistake is declared in the tax return.
(c) It is important to note that the fine cannot be applied if the tax return is corrected before the deadline for tax returns.
(d) A fine which amounts to 25% of non-paid taxes is applied to individuals who falsified the
information in a tax return or in the event of non-submission of a tax return.
(e) As to legal entities, in cases in which the exact amount of non-paid tax is determined during a tax audit, the Code foresees the fine rates as follows:
- 25% of non-paid taxes;
- 50% of non-paid taxes if the breach has been discovered for the second time during the three-year period;
- 75% of non-paid taxes if the breach has been discovered for the third time during the threeyear period.
A single taxpayer is subject to a fine which amounts to 50% of non-paid taxes.
SENSITIVE POINTS
The Tax Code evokes some pre-existing problems in
The problems of deducting corporate expenses in Ukraine
The following may not be included into expenses in accordance with The Tax Code:
(a) Royalties accrued in favour of non-resident entities (save for accruals in favour of their permanent establishment taxed in
television and radio-broadcasting pursuant to the Law of Ukraine On Television and Radio- Broadcasting, and accruals for granting of rights to use copyrights and neighbouring rights to foreign cinematic films, musical and literary works) when any of the five conditions set out below has been met:
- The amount exceeding 4% of the income from the sale of goods, works, services;
- A non-resident entity has offshore status taking into account provisions of clause 161.3 of the Code;
- A non-resident entity is not a beneficial recipient of such payments, expect in instances when the beneficiary authorises other persons to receive such remuneration;
- The royalties are paid for objects, with respect to which the intellectual property rights initially arose with a resident of
- The person, in whose favour the royalties are accrued, is not subject to taxation with regards thereto in the jurisdiction of his residency.
(b) Expenses for consulting, marketing, or advertising services realised by non-resident entities (save for expenses made in favour of permanent establishments of non-residents entities which are taxed in
- The amount exceeding 4% of the income from the sale of goods, works, services of the previous year;
- A non-resident entity has offshore status taking into account provisions of clause 161.3 of the Code;
(c) Expenses for engineering services realised by non-residents entities shall not be included in expenses when any of three conditions below has been met:
- The amount exceeding 5% of the customs value of the equipment imported under the
- respective contract;
- A non-resident entity has offshore status taking into account provisions of clause 161.3 of the Code;
- A non-resident entity is not a beneficial recipient of such payment for services.
(d) The amount of prepayment for the goods, works or services may not be included in expenses.
(e) The amount of payment for the goods, works, services furnished by the simplified taxpayers, except for purchase of IT services.
(f) The land is not subject to depreciation taking into account provisions of clause 147.3 of the Code.
(g) It is very important to note that the amount of payment for the goods, works and services furnished by simplified taxpayers (except for the purchase of IT services) is not included in expenses (clause 139.1.12 of the Code).
Changes to tax legislation
§ Only 20% of tax losses accumulated at 1 January 2010 are deductible in 2010. The balance of losses are carried forward to 2011;
§ The rights of the tax authorities in respect of audits has been substantially expanded;
§ From 1 January 2011 taxpayers with annual revenue exceeding UAH 100 mn will be required to reconcile their tax and accounting profits and submit their financial reports to the tax authorities.
Potential impact of losses carry forward restriction.
As the companies are allowed to utilize only 20% of the tax losses accumulated as at January 1st 2010.
It is expected that this limitation will need to be reflected in the Q2 CPT return (to be submitted on 9 August 2010), but there is a risk that taxpayers will be required to amend the Q1 returns.
Value-Added Tax
§ Electronic filing is mandatory from 1 July 2010;
§ The are significant restrictions on utilization of the input VAT related to suppliers if the suppliers have not been paid.
INSIGHT will continue to monitor this issue
National Bank re-establishes maximum interest rate on foreign borrowings
Рубрика: НовостиДата: 23/11/2009 20:22:59
The National Bank of
§ Starting from 15 November 2009 the maximum interest rates will be as follows:
§ borrowing for up to 1 year – not more than 9.8 %;
§ borrowing from 1 to 3 years - not more than 10 %;
§ borrowing for more than 3 years –not more than 11 %;
§ borrowing with floating rate - LIBOR rate for three-month USD deposits plus 750 bp.
§ Until 15 November 2009, the NBU will register loan agreements without application of the above limitations.
§ After 15 November 2009 amendments to existing loan agreements (other than the basic details) will require the payment schedule and interest rate to be amended so that the total payments under the loan agreement do not exceed the total payments with the above interest rate cap.
We continue to monitor this issue and will inform on further developments.
Value Added Tax – registration of invoices!!!
In the latest move towards increasing VAT compliance the Cabinet of Ministers of Ukraine (CMU) has issued a Resolution (No.1178-р) introducing new State register of tax invoices.
This Resolution obliges companies to register larger VAT invoices with the state before they are issued to customers. The procedure is implemented in phases over the next few months:
§ for invoices of more than UAH 1,000 k – from 1 November 2009;
§ for invoices of more than UAH 500 k – from 1 January 2010;
§ for invoices of more than UAH 100 k – from 1 April 2010.
STAU will need to establish the procedure of such registration of VAT invoices by the end of this month (unless this resolution is vetoed by the President).
Violation of the procedure for registration by the supplier may result in a tax audit of customer’s VAT credit, whilst discrepancy of information in VAT invoices and State register may result in a tax audit of both the seller and the customer.
A critical point in this resolution is that the customer loses the right for VAT credit if the respective tax amount is not reflected in the seller’s VAT return or if the VAT is not fully paid to the budget.