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2019

Limit on repatriation of funds from sale of securities and corporate rights has been abolished

The National Bank of Ukraine (“NBU”) abolished a monthly limit of EUR 5 mln for repatriation of funds from sale of securities, corporate rights, as well as funds obtained as a result of legal entities’ authorized capital decrease, withdrawal from companies by foreign investors. This change came into force on September 10, 2019.

12 September 2019

Multilateral BEPS Convention (MLI): entry into force in Ukraine

On 8 August 2019, Ukraine has deposited with the OECD its instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Convention”).

9 August 2019

Ban on purchasing foreign currency with borrowed funds in UAH has been abolished

Ban on purchasing foreign currency with borrowed funds in UAH is cancelled starting from 08.08.2019. The National Bank of Ukraine (“NBU”) allowed to purchase foreign currency with borrowed funds in UAH.

8 August 2019

Limit on repatriation of dividends has been abolished

The National Bank of Ukraine (“NBU”) abolished the limit on repatriation of dividends for foreign investors/non-residents. This change comes into force on 10 July 2019.

10 July 2019

Mandatory sale of foreign currency proceeds has been abolished

The National Bank of Ukraine (“NBU”) abolished the requirement for mandatory sale of foreign currency proceeds in the amount of 30% on the interbank foreign exchange market. This change will become effective from June 20, 2019.

20 June 2019

Ukraine ratified the Multilateral BEPS Convention

On 28 February 2019, the Ukrainian Parliament passed the Law “On Ratification of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Convention”). Already joined by more than 87 countries, the Multilateral Convention is open for additional signatories and is expected to be signed by other jurisdictions shortly.

1 March 2019

Currency Law enacted

Law of Ukraine “On Currency and Currency Operations” No.2473-VIII dated 21 June 2018 (“Law”) came into effect on 07 February 2019. The National Bank of Ukraine (“NBU”) approved and published its resolutions that will guide the functioning of the currency market of Ukraine.

7 February 2019

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