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Legal Hotline_August 1, 2017

LEGAL HOTLINE . 01 August 2017

THE MATTER OF REGISTERING REORGANISATION OF LEGAL ENTITIES FROM DIFFERENT REGIONS WAS SETTLED

THE NATIONAL BANK OF UKRAINE (NBU) STOPS ISSUING CERTIFICATES FOR DECLARING CURRENCY VALUES BY ECONOMIC ENTITIES

RULES FOR APPLYING TAX LIEN BY REGULATORY AUTHORITIES WERE CHANGED

IT IS PROPOSED TO INTRODUCE SANCTIONS TO BE IMPOSED ON ONLINE STORES FOR PROVIDING FALSE INFORMATION ABOUT THE SELLER

PENALTIES FOR LATE PAYMENT OF INVOICES DUE TO CYBER ATTACKS CAN BE AVOIDED

Contacts

Max Lebedev

Partner, Head of corporate practice, Attorney at law

THE MATTER OF REGISTERING REORGANISATION OF LEGAL ENTITIES FROM DIFFERENT REGIONS WAS SETTLED

On July 25, 2017, the Order of the Ministry of Justice of Ukraine No. 2063/5 of June 30, 2017 came into force; it regulates the procedure for registering reorganisation or separation of legal entities in different regions. It is provided that registration activities on reorganisation (merger, joining, division, transformation) or separation of legal entities in different regions shall be carried out by the state registrar that accepts relevant documents for state registration.


THE NATIONAL BANK OF UKRAINE (NBU) STOPS ISSUING CERTIFICATES FOR DECLARING CURRENCY VALUES BY ECONOMIC ENTITIES

Acceptance of export and import cargoes for customs clearance, carrying out banking transactions with currency values by authorized banks of Ukraine, and undertaking other types of foreign economic activities no longer require this certificate. The relevant changes are stipulated by the Order of the Ministry of Finance of Ukraine No. 524 of May 24, 2017.


RULES FOR APPLYING TAX LIEN BY REGULATORY AUTHORITIES WERE CHANGED

On June 16, 2017, the Procedure for imposing a tax lien by the regulatory authorities was approved. The new procedure will come into force as of the day of its official publication. It is provided that the right for a tax lien shall arise in case of payment by instalments or deferred payment of a monetary obligation or tax debt separately for each tax and duty. The right for a tax lien extends to any property of a taxpayer that is in his/her ownership (economic management or operational management) on the day of emergence of this right, and the balance-sheet value of which corresponds to the amount of the taxpayer’s debt, except as provided for in Paragraph 89.5 of Article 89 of Chapter 9 of Section II of the Tax Code of Ukraine, as well as to other property, to which the taxpayer will acquire property rights in the future. It is established that the right for a tax lien shall not apply, if the total amount of a taxpayer’s debt does not exceed sixty tax-exempt minimums of the citizen income.


IT IS PROPOSED TO INTRODUCE SANCTIONS TO BE IMPOSED ON ONLINE STORES FOR PROVIDING FALSE INFORMATION ABOUT THE SELLER

The Draft Law No. 6754 proposes to introduce a clear identification of the seller (executor, supplier) of goods, works, and services for the purpose of implementing and protecting consumer rights and ensuring the possibility to carry out control measures in the area of e-commerce entities’ compliance with the requirements of the tax, currency, and other legislation. For example, failing to provide information about the seller’s real contact phone number or the online store address entails a fine and blocking of this online store.


PENALTIES FOR LATE PAYMENT OF INVOICES DUE TO CYBER ATTACKS CAN BE AVOIDED

The Law No. 2143-VIII came into force and provides for non-imposition of punitive penalties on a taxpayer, who has delayed the registration of tax invoices and settlement adjustments drawn up in the period from June 1, 2017 to June 30, 2017 due to the unauthorized interference with the operation of taxpayers’ computer networks. Punitive penalties will not apply, if the payer registers such tax invoices no later than July 31, 2017.

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