The President of Ukraine signed the Law of Ukraine “On Privatization of State and Communal Property” of 18.01.18, No. 2269-VIII.
The law establishes a strict privatization procedure, requirements for the formation and approval of the list of objects subject to privatization, the procedure for making a decision on privatization.
The terms of privatization are also reduced.
In addition, the peculiarities of the redemption of certain privatization objects, in particular, shares (interests) owned by the state in the authorized capital of economic companies, are specified.
The State Fiscal Service of Ukraine in its letter “On the Features of Declaring a Corporate Income Tax for 2017” of 01.03.18, No. 6191/7/99-99-15-02-01-17 emphasized: agricultural producers reporting for the period from 01.07 .17 to 31.12.17 should submit a tax return on the company income tax without a mark “agricultural producer”.
It should be noted that if in the previous years the farmer had losses, he/she should indicate the amount determined as of 30.06.17 in line 3.2.4 of the application for tax-revenue declaration. That is, this amount should be equal to the negative value of line 04 declaration of the farmer submitted on the results of the activity from 01.07.16 to 30.06.17.
Together with the tax return on the income tax, it is required financial statements for 2017 and for the first half of 2017.
The State Fiscal Service of Ukraine in its Individual Tax Advice “On the Inclusion of the Compensation for the Purchased Agricultural Technology to the income of the Unified Tax Payer” of 22.02.18, No. 724/6/99-99-12-02-03-15/ІПК clarified the implications for the unified tax payer after the receiving of partial compensation of the cost of agricultural machinery of domestic production. The amount of such funds need not be included in the income of the unified tax payer.
Compensation for agricultural machinery is received by business entity from the state budget under the program “Financial support of agricultural producers”. And the amounts of funds allocated for the purpose, in particular, within the framework of state or local programs, do not belong to the income of the unified tax payer in accordance with para.292.11 of the TCU.
The Ministry of Finance of Ukraine by its Order “On Approval of the Amendments to the Regulation on the Registration of Taxpayers of Value Added Tax” of 16.01.18, No. 7 which amended the Regulations on the Registration of Taxpayers of Value Added Tax. In particular, the specified document regulates the procedure for registration of persons formed by transforming the VAT payer.
If the legal entity formed as a result of the transformation has not submitted to the supervisory authority within 10 working days following the completion date of the transformation, applications for registration or re-registration, the tax authorities after the expiration of this term decide to cancel the registration of the legal entity terminated as a result of the transformation.
In addition, the amendments provide that the organization of work on the registration and accounting of VAT payers will be provided by control authorities in the regions and Kyiv city, as well as interregional territorial bodies. At present, this is the authority of the Main Directorates of the SFSU in the regions and Kyiv city and the interregional head offices of the SFSU.
The Ministry of Economic Development and Trade of Ukraine by its Order “On Approval of the Amendment to the Rules for the Retail Trade in Non-food Products” of 23.01.18, No. 80 changed the rules for traders of non-food products. From now on, they are obliged to prescribe the value of the goods in hryvnias on the price tags. If you want to sell or give a discount, traders should list a reduced price (that is, with a discount) as well as the initial (before the discount) on the price tags.
In addition, when selling such products, shop assistants must provide consumers with the necessary, accessible, reliable and timely product information. It can be found in the accompanying documentation attached to the product, on the label, as well as in the marking or otherwise in an accessible visual form. In particular, this is information about:
- name of the product;
- main properties of the goods, nominal quantity (weight, volume, etc.), conditions of use;
- content of substances harmful to health, as established by regulatory acts;
- warning regarding the use of certain goods;
- presence of genetically modified organisms in the composition of products;
- prices (tariffs), terms and conditions of purchase of the goods;
- date of manufacture;
- storage conditions;
- warranty obligations of the manufacturer (executor);
- rules and conditions for the effective and safe use of the goods;
- expiration date (service life) of the goods, etc.
Information about the product may be placed in the places where it is implemented, or with the consent of the consumer to communicate with it via the Internet, television or mail.
The National Bank of Ukraine by its Resolution “On Amending Certain Legislative Acts of the National Bank of Ukraine” of 01.03.18, No. 19 allowed Ukrainian companies to pay dividends to foreign investors for any period (until 2017 inclusive) in foreign currency up to USD 7 million per month. By this time foreign investors could only pay dividends accrued up to 2016 inclusive. And then - there were significant limits.
Also, the relaxation has affected the requirements for mandatory sale of 50% foreign currency. It no longer concerns received external loans or loans to refinance its existing debt to non-residents or authorized banks for other credits or loans. But it is only provided that the conditions of the intended use of the received foreign currency funds. In addition, resident borrowers will be able to repay foreign credits and loans ahead of time, within the limits of the monthly limit of USD 2 million.
