Top global retailers sustain year of revenue growth
The top 250 global retailers generated aggregated revenues of US$4.5 trillion in fiscal year 2014, representing a steady growth of 4.3 percent compared with 4.1 percent in 2013, according to the Global Powers of Retailing 2016: Navigating the new digital divide from Deloitte.
Currency restrictions re-extended
On 03 September 2015, the National Bank of Ukraine (hereinafter, the “NBU”) issued Decree No.581 which came into force on 04 September 2015. Decree No.581 re-extends the key currency restrictions previously imposed by Decree No. 354 dated 03 June 2015.
Ukrainian Parliament approved the Law “On amendments to the Tax Code of Ukraine regarding the improvement of value added tax administration”
Adopted on 16 July 2015, this legislative act was intended to improve the electronic VAT administration system. Unfortunately, certain novelties may give rise to quite negative consequences.
Important Changes to Transfer Pricing Legislation
Ukraine’s Parliament on 15 July 2015 approved a Law that introduces important changes to the transfer pricing rules in Ukraine. The changes generally are positive and aimed at eliminating errors and inaccuracies in the current version of the TP legislation. Presented below is a brief overview of the most important TP amendments.