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Ukraine: ripe for investment

Ukraine’s infrastructure has huge potential and the increase of agricultural exports is one of the key catalysts of infrastructural development. It seems that the time is right for investment....more

The National Bank of Ukraine continues to reform currency controls

The National Bank of Ukraine (NBU) relaxed a number of currency control restrictions and facilitated the acceleration of certain foreign trade operations related to the recent Resolution No. 30 "On Amendments to the NBU Board...more

New initiatives of NBU open opportunities for secondary Debt Trading

The National Bank of Ukraine (NBU) introduced important changes to the procedure for registration of cross-border loans advanced by foreign lenders to Ukrainian borrowers. Among other initiatives, new rules simplify the...more

Ukrainian sanctions enacted against certain banks with Russian capital - changes in foreign currency regulation

On March 16, 2017, Ukrainian President signed a decree approving the decision allowing the National Security and Defense Council (NSDC) and the National Bank of Ukraine to impose sanctions against Ukrainian banks funded by...more

Ukraine: New rules on withholding tax for Eurobond offerings and LPNs

Starting from January 1, 2017 Ukrainian tax legislation contains new (more favorable) rules on taxation of interest payable by Ukrainian borrowers under Eurobonds offerings relating to LPN structures. It is common for...more

Update on amendments to FX transactions and market

The National Bank of Ukraine (NBU) has made a further step towards liberalising the currency regime for ECA supported lending. These amendments became effective on 30 November 2016. Pursuant to them Ukrainian borrowers and...more

Ukrainian financial restructuring: new consensual work-outs for distressed business came into force on 19 October 2016

The new law "On Financial Restructuring" No. 1414-VII dated 14 June 2016 ("Law") has recently been adopted by the Parliament of Ukraine. The Law came into force on 19 October and is effective until 16 October 2019. This...more

NBU lifts pricing expertise requirements for imported services

Starting from 19 August 2016, Ukrainian residents are no longer required to obtain a pricing expertise certificate issued by the State Information and Analytical Centre for Monitoring International Commodity Markets in order...more

NBU continues liberalization of foreign currency exchange market

Starting from 29 July 2016, the National Bank of Ukraine (the NBU) has extended the settlement deadlines for export and import transactions to 120 days, as well as changed the rules governing the execution of payments by...more

NBU tightens restrictions on certain operations on the foreign exchange market

At the beginning of last week the National Bank of Ukraine ("NBU") approved further restrictions regarding certain operations on the foreign exchange market. In particular, the amendments to banking legislation introduced...more

National Bank of Ukraine prolonged currency market restrictions

On 3 December 2014 the new Resolution* of the National Bank of Ukraine (the "NBU") comes into effect, which prolonged the recent restrictions aimed at Ukraine's foreign exchange market regulation. Thus, now the following...more

12/8/2014  /  Banks , Foreign Exchanges , Ukraine

National Bank Of Ukraine softened regime of currency regulation under product sharing agreements

On 8 November 2014 Resolution of the National Bank of Ukraine No. 712* came into effect. This Resolution facilitated the regime of currency regulation for transactions made by foreign investors or their representative offices...more

National Bank of Ukraine cancels restriction on certain foreign currency transactions

With effect from 3 November 2014, the National Bank of Ukraine cancelled* recently imposed prohibition to conduct the following transactions in foreign currency: - to settle import transactions made without importation...more

11/7/2014  /  Banks , Foreign Currency , Imports , Ukraine

Law "On Sanctions" Enacted

The Law of Ukraine "On Sanctions" (the "Law") adopted by the Verkhovna Rada under legislative initiative of the Cabinet of Ministers of Ukraine took force on 12 September 2014. The adoption of the above Law as well as...more

National Bank of Ukraine restricts foreign currency lending

On 29 August 2014 the National Bank of Ukraine (the NBU) imposed restrictions on lending in foreign currency for the purpose of using such foreign currency within the domestic market of Ukraine....more

National Bank of Ukraine introduced mandatory sale of 100% foreign currency proceeds

The National Bank of Ukraine (NBU) toughened requirements for mandatory sale of international currency proceeds, that was temporarily introduced in November 2012. Now the requirement for mandatory sale applies to 100% of...more

The National Bank of Ukraine: Cap on maximum floating interest rate increase in loan agreements no longer imperative

The National Bank of Ukraine (the "NBU") reported on 23 October 2013 that its letter demanding parties to cross-border loan agreements to forecast maximum floating interest rate increases is no longer relevant....more

International Tax News - October 2013

COLOMBIA ISSUES TAX HAVENS LIST: 4 THINGS TO NOTE FOR THOSE DOING BUSINESS IN COLOMBIA - Colombia has issued its list of tax havens – an act that will negatively impact the tax effects of doing business in Colombia...more

National bank of Ukraine toughens requirements for mandatory sale of foreign currency proceeds

The recent amendments to Ukrainian banking legislation stipulating additional requirements for sale of proceeds by residents and non-residents in foreign currency have come into force....more

10/18/2013  /  Banks , Cross-Border , EU , Foreign Currency , Sales
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