The law of Ukraine ?1166-VII "On Prevention of the Financial Disaster and Creation of the Grounds for Economic Growth in Ukraine" was adopted by the parliament on 27.03.2014 and signed by acting president on 31.03.2014. As a general rule, the Law comes into effect starting as of April 1, 2014 (date of official publication), except for some sections which are to come into effect on the later dates.
The Law introduces some notable changes to the Ukrainian Tax code and other laws. The most important changes are:
Corporate profit tax and VAT
- Standard CPT rate remains at the level of 18% and its contemplated reduction in the following years to 16% has been cancelled.
- Standard VAT rate remains at the level of 20% and its contemplated reduction to 17% has been cancelled...
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