BEPS legislative proposal: update

On 16 January 2020, the Parliament of Ukraine heard the draft law implementing anti-BEPS measures in Ukraine (registration No.1210) in the second reading and adopted it as a law (hereinafter, the “BEPS Law”). The final text of the newly adopted law has not been released to the public yet.

On 17 January 2020, people deputies initiated the withdrawal of Parliament’s resolution on the adoption of the BEPS Law due to violations occurred during the hearing of the bill in the second reading. The respective withdrawal proposal (draft resolution) has been submitted to the Parliament.

According to regulations, Parliament’s decision on the new law adoption can be withdrawn until the Chairman of the Parliament signs the text of the law.

The withdrawal proposal must be heard by the Parliament at the next following plenary session that is scheduled for the week commencing 3 February 2020. As the result, the Parliament cannot proceed with further actions required for the enactment of the new BEPS law until the aforementioned withdrawal proposal is considered by Verkhovna Rada.

We actively monitor the BEPS law status and will keep you informed of any updates. Follow us for the information alerts and for the announcement of Deloitte events devoted to the impact of the upcoming tax reform on business.

Please follow the link for our latest alert on the BEPS legislative proposal that we have prepared based on the text adopted in the first reading. Please note, that the final text of the law, as adopted on 16 January 2020, will differ from the text adopted in the first reading. We will keep you posted on the changes, once the final text of the law is available.