The Cabinet of Ministers of Ukraine by its Resolution “On Amendments to the Procedure for approval of construction projects and conduction of their examination” of 07.06.17 No. 403 detailed rules for the examination of project documentation for the construction of facilities and buildings, developed for new construction, renovation, restoration, major repairs to such stages of designing as technical and economic feasibility study, technical and economic calculation, preliminary design, project, working draft.
In order expert organization has the right to conduct an examination, it must not only meet the criteria defined by the Ministry of Regional Development, but also be included in the relevant list.
In addition, there were determined some requirements for expert organizations, which want to examine the design of documentation of construction of facilities with significant consequences (CC3) that are constructed at the expense of budget funds, funds of state and municipal enterprises, institutions and organizations, as well as loans granted under state guarantees.
The State Fiscal Service of Ukraine by its Order “On approval of the State register of cash registers” of 07.06.17 No. 406 updated the State Register of cash registers (hereinafter − the Register).
Now, there are 82 models of cash registers permitted to primary registration to choose for companies. And 70 devices, registration of which is prohibited (but can be used in the future).
In addition, three new models for the fuel sales were added to the Register.
Five cash registers models, which are removed from the Register in 2016−2017 and prohibited for use, are submitted in a separate table.
The Ministry of Finance of Ukraine by its Order “On approval of amendments to the form of Reports on the use of income (profits) of non-profit organization” of 28.04.17 No. 469 set out in the new edition the Report on use of income (profits) of non-profit organization approved by the Ministry of Finance dated 17.06.16 No. 553 (hereinafter − Non-profit report).
There were no radical changes in the form of Non-profit report: adjustments aimed at bringing it in line with the innovations introduced in tax legislation. So, among other things, from 01.01.17, non-profit organizations except non-profit report are obliged to apply to the tax authorities the financial reporting, which is its integral part and application. Thus, financial statement is clearly appears as a supplement to updated form of Non-profit report.
Also, there were of made a series of local adjustments to the Non-profit report. In particular, quarterly reporting period was removed from to the requisites of the Non-profit report. And there were left only annual and monthly periods (last used in connection with violation of the terms of non-profit).
The National Bank of Ukraine by its Resolution “On amendments to some legislative acts of the National Bank of Ukraine” of 08.06.17 No. 51 made amendments to the procedure for issuing of individual licenses for investment abroad.
In order to obtain a license it is no longer need to notary certify copies of contracts (agreements) and / or other document (decision of the founder, protocol of general meetings of shareholders etc.), which is the basis for the implementation of investment abroad by the resident. It is enough to submit copies of these documents. In addition, the National Bank will no longer require registration documents of non-residents abroad (an extract from the trade, bank, court registries, etc.) to authorized capital of which the funds to be invested.
In addition, the National Bank established different requirements for obtaining licenses depending on the amount of investment abroad. If the size of the investment is less than USD 50 thousand, the simplified requirements to the list of documents to obtain licenses will act. In addition to the application, it will be enough to provide some other documents depending on the type of investment and type of investor (agreement on the investment, documents of the registration of facility of investment, etc.).
Detailed list of documents is to be established for investments of over USD 50 thousand. The list “will help to the National Bank to prevent the use of foreign exchange licenses for schematic outflow of capital” (as NBU explained in its notice).
So, if during the calendar year the resident plans to make investment(s) amounting to over USD 50 thousand (equivalent at the NBU rate on the date of application for a license) in favour of a person, in order to obtain a license he/she additionally need to submit the following documents:
1) information/documents confirming the economic feasibility (sense) of transaction on the investment. The National Bank explained that such information may be in the form of a business plan or otherwise;
2) certificate of the applicant in any form on his/her open current accounts in authorized banks (for applicants − legal entities and FOP). This certificate should contain the following information:
- banks that have opened accounts;
- currency of accounts;
- date of account opening;
- balances in the accounts;
- total depositing and debiting of funds under the accounts at least the last 6 months;
3) information/data on the ultimate beneficial owners of the applicant-legal entities, non-residents − the seller of the investment object (if any) and non-resident, corporate rights/securities of which acquires the applicant (if available). In other words, the National Bank wants to see a schematic representation of the ownership structure of the resident/non-resident (indicating direct and indirect participation of individuals in percentage terms) and information about the final beneficial owners (controllers) of resident/non-resident;
4) original or a copy of the evaluation report (assessment act) of the market value of the investment, compiled by an authorized person (the subject of evaluation activity).
The applicants − legal entities and entrepreneurs will have to submit additional documents that disclose information about their financial position. Namely − the financial statements and tax returns.
The applicants individuals should submit documents (information), indicating the presence of the applicant’s income in an amount sufficient for the investment (declaration of property and income, information sheet (data) of SFSU on the amounts paid to individuals (the applicant) of incomes and paid taxes, information from the official website of the National agency for prevention of corruption from declarations of property and income, which to be submitted by the individual (the applicant) to meet the requirements of legislation on prevention of corruption).
The National Bank of Ukraine in its letter “On calculation of periods of time of payments of export, import transactions and informing the tax authorities on found violations of term calculations in the reporting month” of 08.06.17 No. 40-0005/40465 reported: if exporters and importers to 26.05.17 did not complete the calculations for export, imports and did not violate the 120-day period payments, they can complete these transactions within 180-day period of calculations.
Consequently, it is not considered the violation of exchange control.
The National Bank of Ukraine by its Resolution “On amendments to some legislative acts of the National Bank of Ukraine” of 30.05.17 No. 44 and “On introduction of mandatory sale of revenues in foreign currency and setting the amount of the mandatory sale of such revenues” of 30.05.17 No. 45 continued to weaken exchange restrictions for banks and their clients. In particular, the regulator removed restrictions for individuals to transfer money from Ukraine for non-trading transactions. Earlier it was possible to transfer abroad not more than UAH 150 thousand per month (except in some cases). This rule earned into force on June 12, 2017.
Also, it was abolished the ban on buying of foreign currency if the client’s own funds in accounts at an amount exceeding USD 100 thousand equivalent. Previously, if exceeding that amount, the client had to fulfil obligations by its own foreign currency.
However, the National Bank kept the requirement for mandatory sale of revenues in foreign currency from abroad in favour of legal entities at 50% level.
The National Bank of Ukraine by its Resolution “On regulation activities of credit intermediaries in consumer crediting at banking services market” of 08.06.17 No. 50 approved the Regulation on the establishment of requirements for credit intermediaries of banks and their activities in the field of consumer crediting. It provides for requirements for a bank that concludes a contract with a credit intermediary and requirements for the credit intermediary.
In particular, individual, individual-entrepreneur, manager (the person who performs his duties) of legal entity, which are credit intermediaries, and credit intermediaries workers who perform customer service, must meet the following requirements:
- be residents of Ukraine according to the Tax Code of Ukraine;
- have sufficient knowledge in the field of consumer crediting;
- have full civil capacity;
- have an impeccable reputation.
The Ministry of Social Policy of Ukraine in its letter “On determining of adjustment coefficient when the calculating of vacation payments” of 20.04.17 No. 1227/0/101-17/282 provided clarification on the calculation of vacation payments in the case of wage increases in the settlement period and during leave. Thus, if the wages increase took place in the settlement period, then when calculating vacation payments it is necessary to adjust the wage before the time of its increase on the coefficient of the increase of employee’s wage.
For example, if the settlement period is December 2015 − November 2016 and salaries increased from May 2016, the wage before May is to be adjusted, and from May to November - to take into account in the amount of actually accrued wages.
If the increase of tariff rates and salaries took place during the vacation, for this earning it should be accrued only in the part concerning the preservation of the average wage days from the date of increase of tariff rates (salaries). Therefore, if the employee was on vacation from December 26, 2016 to January 20, 2017, and from January 1, 2017 there was salaries increase, it is necessary to adjust the average salary, which was kept for an employee from 1 to 20 January 2017, and additionally accrue funds belonging to him/her.
It should be recalled that the adjustment of salaries, including premiums and other benefits, which are taken into account when the calculation of the average salary in the case of increase of tariff rates and salaries provided by para.10 of the Procedure of the calculation of the average wage approved by the CMU of 08.02.95 No. 100.
The Ministry of Social Policy of Ukraine by its letter “On providing financial aid to government officials” of 15.02.17 No. 355/0/101-17/281 reminded: government officials who were recruited for the transfer from another public authority, financial assistance should be provided if they did not get it at previous job in the year, which were transferred, (para.5 of the Procedure of providing financial aid to government officials to resolve welfare issues, approved by the Cabinet of Ministers of Ukraine of 08.08.16 No. 500). That is why government officials should be provided by a certificate of salary from previous employment.
Financial assistance to resolve social and domestic issues is not mandatory payment and can be made by the decision of the head of civil service within the estimated appointments for labor remuneration in the presence of financial resources after securing of government officials by the mandatory benefits: salary, bonuses for rank and for long service, financial support in the provision of basic annual leave.
