The Ukraine government has announced the adoption by parliament on 16 January 2020 of draft laws on the improvement of administration of taxes and elimination of certain inconsistencies in tax legislation (Law No. 1209-1 and Law No. 1210), which includes the implementation of several BEPS related measures and certain others. The main measures include:
The measures generally apply from 23 May 2020, although several of the key BEPS measures apply from 1 January 2021, including the new CFC rules, interest deduction rules, and the CbC report and Master file requirements. However, the CbC report requirements are subject to the condition that they will only apply after Ukraine has signed the multilateral agreement for the exchange of CbC reports. Further, the new rules on transfers of shares deriving value from immovable property apply from 1 July 2020.
- Note this article has been updated, including with respect to effective dates, following the publication of the law in the Official Gazette on 22 May 2020.
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