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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…

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…

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…

Today Rostyslav Kulish, managing partner of the audit firm Key Solutions, is speaking together with colleagues from the law firm Legal Solutions at the conference “Round table for salon directors” (Kruhlyi stil dlia dyrektoriv saloniv) hosted by ESTEL Kyiv Studio.Topics covered today: “Optimising an established business, or how to work profitably”, Rostyslav Kulish “Inspections of employer compliance with labour law: how to stay out of trouble” and “Changes in employment legislation. Pros and cons of an employment contract…

Published 22 February 2017. Some rules have changed since; ask us for the current position. The National Bank of Ukraine (NBU) continues to ease temporary currency restrictions step by step, where relaxing them will not destabilise the interbank foreign exchange market. First, the NBU has exempted foreign currency received from non-residents from mandatory sale if the funds arrive as cash security (a guarantee payment, pledge, advance deposit, deposit or guarantee) for taking part in auctions, bidding or tenders held by residents. Second, the regulator has allowed…