Yesterday, the Parliament ofUkraine passed the Law* introducing changes to the Tax Code. 

Some CPT incentives will be abolished. This will result in following: Save
 - Taxable gains on the sale of securities will be subject to the standardCPT rate of 18% (instead of the reduced CPT rate of 10%).
 - Power generating companies that receive profit from the generation ofelectric energy from renewable energy sources, as well as three, four, and fivestars hotels, will not be entitled to benefit any more from the CPT exemption.
 - CPT exemption for profit of investment funds will no longer apply tointerest income, obtained by such funds.
The Law* should enter into force starting from the next day following the dayof its official publication.

*TheDraft Law # 4309a dated 21 July 2014

 
Contacts:

Ron Barden,Partner & TLS Leader, ron.j.barden@ua.pwc.com
Rob Shantz, Legal Partner, rob.shantz@ua.pwc.com
Slava Vlasov, Partner, Tax and Legal Services, slava.vlasov@ua.pwc.com
YaroslavGuseynov,Director, Tax and Legal Services, yaroslav.guseynov@ua.pwc.com

75 ZhylyanskaStreet | Kyiv | Tel:  +380 44 490 6777 | Fax: +380 44 490 6738 | pwc.ukraine@ua.pwc.com  |  www.pwc.com/ua 

 This flash report isproduced by PricewaterhouseCoopers’ tax and legal services department. Thematerial contained in this alert is provided for general information purposesonly and does not contain a comprehensive analysis of each item described.Before taking (or not taking) any action, readers should seek professionaladvice specific to their situation. No liability is accepted for acts oromissions taken in reliance upon the contents of this alert.
©2014 Limitedliability company «PricewaterhouseCoopers». All rights reserved. PwC refers tothe Ukrainian member firm, and may sometimes refer to the PwC network. Eachmember firm is a separate legal entity. Please see www.pwc.com/structure for furtherdetails.

 Wewill be sending additional Flash reports as issues arise.  If you do notwish to receive these Reports, please advise by return e-mail (myroslava.suprunyuk@ua.pwc.com). Alternatively, if there is someone else in your company to whom we should sendour Alerts, please let us know.

Weare pleased to inform that this Flash report is also available both in Ukrainianand Russian and can be sent to you upon request.
Мираді повідомити, що цей  Flash report також доступний українською іросійською мовами і може бути наданий Вам за запитом.
Мырады сообщить, что этот Flash report также доступен на украинском и русскомязыках и может быть предоставлен Вам по запросу.