Recent changes in tax legislation
The law of Ukraine №1166-VII ‘On Prevention of the Financial Disaster and Creation of the Grounds for Economic Growth in Ukraine’ was adopted by the parliament on 27 March 2014 and was signed by the acting president on 31 March 2014. As a general rule, the law comes into effect starting as of 1 April 2014 (date of official publication), except for some sections, which are to come into effect on the later dates.
The law introduces some notable changes to the Ukrainian tax code and other laws. The most important changes are as follows.
The standard corporate profit tax (CPT) rate remains at the level of 18 per cent and its contemplated reduction in the following years to 16 per cent has been cancelled…
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