Published 24 July 2018. Some rules have changed since; ask us for the current position.
A new method for calculating the official hryvnia to US dollar exchange rate
The National Bank of Ukraine (NBU) has announced that it has revised the method for calculating the official exchange rate and now uses a completely different approach. Details have not yet been released, but NBU representatives have promised a presentation soon.
The official hryvnia to dollar rate will now be calculated on the basis of data on currency purchase and sale…
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The old Beskyd tunnel is to be mothballed
The Uzhhorod railway directorate is considering mothballing the railway tunnel.
Lviv Railway staff have started mothballing the old single-track Beskyd tunnel. The tunnel was in service for more than 100 years, so it can no longer be considered safe.
The tunnel's management said the overhead contact lines will be dismantled first, the signalling equipment removed next, and the track taken up at the final stage. The track will be dismantled by the Uzhhorod track machine station.
The large new Beskyd…
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Published 20 July 2018. Some rules have changed since; ask us for the current position.
The Cabinet of Ministers has discussed tighter control over the money of wealthy Ukrainians. If the Ministry of Finance manages to draft a dedicated bill, all wealthy Ukrainians will be under close scrutiny from the tax authorities from January 2019.
The Ministry of Finance has prepared such a bill. According to Halyna Kolchanova, a high-income taxpayer will have to meet the following criteria:
Be a beneficial owner and belong to the category…
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Published 20 July 2018. Some rules have changed since; ask us for the current position.
Banks must now complete an electronic client questionnaire when they sign an agreement for the safekeeping of a client's money or valuables. In letter No. 25-0008/37913 of 12 July 2018, the National Bank of Ukraine (NBU) explained how banks should compile and maintain electronic client questionnaires.
Failure to comply with Article 64 of the Law of Ukraine "On Banks and Banking" (Про банки і банківську діяльність) can have unpleasant consequences. That is why banks must identify and…
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Published 3 May 2018. Some rules have changed since; ask us for the current position.
The Government of Ukraine has announced changes to how utility bill subsidies are granted.
The Government adopted several amendments to the rules for compensating low-income households for utility bills. It presented them as a major step towards replacing in-kind assistance with cash payments, in other words full monetisation.
Under the Government's decision, housing subsidies (житлові субсидії) will be paid in cash. Recipients who save money by using utilities sensibly and carefully…
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