The Cabinet of Ministers of Ukraine has endorsed the proposal of the Ministry of Finance of Ukraine to clarify the category of business entities that will be able to become members of the “Affordable loans 5–7–9%” program and to lift the restrictions on the maximum amount of refinancing loan at zero interest rate.
The Cabinet of Ministers has specified that entrepreneurs with an annual income of less than 10 million EUR will be able to receive refinancing at zero interest rate within the framework of anti-qurantine package that was added to the program on April 15, 2020. The restriction on the maximum loan amount for such refinancing is removed. Only the amount of state support granted to an entrepreneur is limited, which collectively may not exceed 200,000 EUR for any three-year period.
In addition, borrowers have the opportunity to refinance their existing loans at the rate of 3, 5, 7 or 9% per annum (depending on the category of loan) for up to five years and up to 3 million UAH.
Both types of refinancing are available to borrowers who have loans at any bank in Ukraine.
The business will also be able to apply for a deferred payment not only of the principal of the loan, but also of interest on loan servicing. Such a delay can be up to nine months and depends on the purpose of providing state support.
Let us remind, that today you can get a loan under the program “Affordable loans 5–7–9%” in four public sector banks – PrivatBank, Oschadbank, Ukrgasbank, UkrEximBank and three commercial banks – “Lviv”, “Alliance” and “PUMB”.
The Cabinet of Ministers of Ukraine by Resolution “On Amendments to Resolution of the Cabinet of Ministers of Ukraine No. 211 of March 11, 2020” No. 313 of April 29, 2020, permitted the operation of food markets. 872 markets will be opened in Ukraine if the sanitary standards proposed by the Chief Medical Officer of the Ministry of Health of Ukraine are met.
The control over the observance of anti-epidemic requirements by the food market is entrusted to the representatives of the State Consumer Service. In particular, the territorial bodies of the agency must ensure that at least two of their inspectors are present in each market on a regular basis and carry out unannounced inspections daily.
Markets will be able to operate in accordance with the following requirements:
- the market must be registered as a food market operator;
- temperature screening (market employees, vendors and visitors) must be carried out;
- only person in a mask (including self-made or respirator) is allowed in the market;
- there must be an antiseptic dispenser at each entrance;
- number of buyers - no more than 1 per 10 m² of market floor space;
- the distance between the vendors should be at least three meters;
- seller's workplaces should be equipped with transparent protective screens (film or plastic);
- disinfection of contact surfaces (door handles, stair rails, switches, etc.) is required every three hour;
- disinfection of all premises, including fixed retail outlets, is required at the end of each business day;
- categorically prohibited uncontrolled (pop-up) trade in the territory adjacent to the market;
- market visitors should be kept constantly informed of any restrictions that must be observed.
Penalties will be imposed if violations occur.
The State Tax Service of Ukraine in category 102.05 “ZIR” has answered the question “Are fixed assets received free of charge by the taxpayer subject to depreciation?”.
The procedure for calculating the depreciation of fixed assets (hereinafter – FA) or intangible assets for determining the object of taxation is given in item 138.3 of the Tax Code of Ukraine (hereinafter – Tax Code).
According to subitem 138.3.1 of the Tax Code the calculation of depreciation of fixed assets and intangible assets is carried out in accordance with national accounting standards (hereinafter – NAS) or International Financial Reporting Standards (hereinafter – IFRS), subject to the limitations set out in subitems 14.1.138 and 138.3.2–138.3.4 of the Tax Code. During this calculation, the methods of depreciation provided by NAS are used, except for the “production” method.
To calculate depreciation in accordance with the provisions of this item, the value of fixed assets and intangible assets must be determined without taking into account their revaluation (writedown, increase in the value) carried out in accordance with accounting provisions.
According to subitem 138.3.2 of the Tax Code the following are not subject to depreciation and are carried out at the expense of relevant sources:
- goodwill cost;
- cost of purchasing/self-manufacturing of non-productive fixed assets, non-productive intangible assets;
- expenses for repair, reconstruction, modernization or other improvements of non-productive fixed assets, non-productive intangible assets.
The terms “non-productive fixed assets”, “non-productive intangible assets” mean respectively fixed assets, intangible assets not intended for use in the business activities of the taxpayer.
In accordance with item 22 of Accounting standard 7 “Fixed assets” (hereinafter – AS), approved by Order of the Ministry of Finance No. 92 of April 27, 2000, the object of depreciation is the depreciable value (except for land, natural resources and capital investment value).
Item 4 of AS 7 establishes that depreciation refers to the systematic distribution of depreciable value of non-current assets over their useful life (operation).
Provisions of AS 7 and Methodological Recommendations for Accounting of Fixed Assets, approved by Order of the Ministry of Finance No. 561 of September 30, 2003, determined the reflection of the cost of fixed assets received free of charge and their depreciation.
Given the abovementioned, the tax accounting does not provide for restrictions on the depreciation of fixed assets received free of charge by the taxpayer, so such fixed assets that are intended for use in the taxpayer's business activities are subject to depreciation in accordance with item 138.3 of the
The State Labor Office of Ukraine has explained whether it is possible to fire an employee for being absent from duty as he/she was unable to get to work due to a transport problem.
According to item 4 of Art. 40 of the Labor Code of Ukraine (hereinafter – Labor Code) absent form duty means absenteeism at work for more than three hours during the working day without solid reason. Absenteeism is one of the reasons for termination of an employment contract on the initiative of the employer.
The legislation does not clarify the list the reasons for the absence of an employee at work, which should be considered as valid. In each individual case, their presence or absence is determined separately.
Quarantine announcements and the introduction of restrictive measures in this regard, including restrictions on public transport, lack of long-distance traffic, may be considered as valid reasons.
Therefore, the State Labor does not advise dismissing employees for being absent during quarantine.
The State Labor Service of Ukraine has clarified whether an employer can refuse an employee to work remotely.
Yes, of course, an employer may refuse an employee a transition to remote working.
What is remote (home) work? It is a form of work organization when the work is performed by the employee at his place of residence or at another place of his choice, including by using means of information and communication technologies, but outside the premises of the employer.
Article 24 of the Labor Code contains a requirement for a written contract for remote (home) work. The exception to this rule is the introduction of such a regime of work in the period of threat of spread of epidemic, pandemic and/or at the time of military, technogenic, natural or other threat, when the condition for such work is sufficient to be specified in the order by the chief. Therefore, if an employee has such a desire and the specifics of the work make it possible to perform it remotely, he/she must agree with the employer and write a statement requesting to work remotely for the period of the quarantine introduced by the government.
