The Verkhovna Rada has ratified the protocol with amendments to the convention with Austria for avoidance of double taxation and prevention of tax evasion with respect to taxes on income and property.
The Ministry of Finance said on its website the protocol provides for an increase in the general tax rate of dividends from 10% to 15% and interest from 2% to 5%.
“Increased were also the rates of royalties paid for the use of any copyright on scientific work, patent, etc. from 0% to 5%, for the use of copyright on literary works or works of art from 5% to 10%,” the Ministry of Finance said.
In addition to the increase in rates, it is envisaged to supplement the convention with new articles on limiting the possibility of applying the preferential provisions of the convention, if the main purpose is to obtain such benefits, and on expanding the ability of the competent authorities of Austria and Ukraine to exchange tax information.
“These changes and rates correspond to the general practice of Ukraine’s conclusion of such agreements and protocols to them with other countries of the world – similar rates are contained in most of the conventions and protocols to them, concluded by our state,” the ministry explained.
In 2020, Ukrainian agricultural producers harvested 65.4 million tonnes of cereals and legumes from an area of 15.3 million hectares. The operational data of the regions on the results of the harvesting campaign was announced on Tuesday by Minister of Development of Economy, Trade and Agriculture Ihor Petrashko.
According to a report on the ministry’s website, in particular, 25.1 million tonnes of wheat from 6.6 million hectares and 29.8 million tonnes of corn from 5.3 million hectares were harvested.
According to the State Statistics Service, in 2019 Ukraine harvested 75.1 million tonnes of cereals and legumes (70.1 million tonnes in 2018), of which 28.3 million tonnes of wheat (24.6 million tonnes) and 35.9 million tonnes of corn (35.8 million tonnes a year earlier).
The National Bank of Ukraine (NBU) has excluded from the State Register of Financial Institutions such companies as׃ Credit Institution Credit Commerce LLC, Financial Company Monopolium Finance LLC, Finance and Credit Group Chaika LLC on the basis of their applications.
As reported on the regulator’s website, the relevant decisions were made by the NBU Committee on Supervision and Regulation of Non-Bank Financial Services Markets at a meeting on December 11, 2020.
According to the NBU, Credit Commerce had one license to issue loans, financial loans as well. As of September 30, 2020, the volume of assets of this institution was UAH 10.7 million, or 0.006% of the total assets of financial companies.
Monopolium Finance had three licenses: for the provision of guarantees and sureties, loans, financial loans, as well as factoring services. The licenses were revoked at a committee meeting on November 20. The company’s assets amounted to UAH 403.9 million, or 0.2% of the total assets of financial companies.
Finance and Credit Group Chaika had one license for issuing loans, including financial ones. The license was revoked on July 30, the volume of assets is UAH 5.9 million, or 0.003% of the total assets of financial companies.
The arbitration panel in the dispute between Ukraine and the EU regarding the ban on the export of unprocessed wood (logs) has recognized that Ukraine has the right to restrict the export of logs under certain circumstances, Deputy Minister of Economic Development, Trade and Agriculture, Trade Representative Taras Kachka has said.
“The arbitrators in the unprocessed wood case have made their decision regarding the ban on the export of logs. The arbitrators recognized that Ukraine is able and has the right to restrict logs exports under certain circumstances. So the existing export ban in 2005 was recognized by the court as fully legitimate,” Kachka wrote on his Facebook page.
He said that at the same time, the arbitrators recognized that the 2015 ban should be adjusted taking into account the full right of Ukraine to regulate this area of activity in accordance with Article 290 and Article 293 of the Association Agreement. Corrective actions should be carried out in cooperation with the EU.
“The decision of the arbitrators gives us wide freedom to choose the measures of execution of the decision. The cornerstone of its implementation will be the creation of a normal market within Ukraine. So, the first step should be the approval of the law of Ukraine on the unprocessed wood market (bill No. 4197-1) based on a government experiment to sell logs at auctions,” Kachka said.
The Antimonopoly Committee of Ukraine (AMCU) has granted permission to Vesco Limited (Limassol, Cyprus), which unites the clay mining business of the investment company UMG Investments of SCM Group, to purchase more than 50% of the shares of PJSC Chasiv Yar Refractory Plant (Chasiv Yar Donetsk region).
“The AMCU has granted permission for the stated actions and imposed obligations, which stipulate the implementation of concentration in the markets of aluminosilicate refractories and refractory clay of Ukraine,” the agency said in a press release.
The committee recalls that these obligations were offered by Vesco Limited itself last fall for a period of five years and consist, in particular, of selling to third-party buyers, if there is a demand from them, of at least 50% of the annual sales volume of the plant’s goods at market prices.
Another obligation is not to allow limiting the volume of supplies of refractory clay without economically justified reasons to third-party buyers who intend to purchase them for the needs of their own production in Ukraine.
In addition, Vesco will have within two years, in the absence of alternative sources of supply of refractory clays mined in Ukraine in volumes that fully meet the needs of Ukrainian consumers, to ensure the sale of refractory clays in favor of such companies in volumes from 20% of the total annual sales of concentration participants, if there is demand, at market prices.
Initial registrations of electric vehicles (new and used) in January-November 2020 decreased by 2% compared to the same period in 2019, to 6,823 units, including 92% of used cars, the Ukrautoprom association reports.
Thus, in the 11 months, the market of electric vehicles turned to negative dynamics, while over the ten months there was still a slight increase (by 1%), despite the drop in sales in October by 15%, and in the seven months, the growth was 7%.
This situation is due to the fact that, according to the association, in November compared to the same month of 2019 the number of registrations of electric cars decreased by almost 28% from November 2019, to 514 units (481 passenger cars and 33 commercial vehicles), which is also almost 22% less than in October 2020.
However, at the same time, the report states, the share of new cars increased to 10% from 6% in November last year, used electric cars from abroad were purchased by 461 persons (31% less than a year earlier), while the demand for new cars rose by 29%, to 53 units.
The most popular passenger electric car remains Nissan Leaf (126 cars were bought in November). The top five cars also include Chevrolet Bolt with 69 units, Tesla Model 3 with 55 units, Tesla Model S with 36 cars, and BMW i3 with 23 vehicles.
Commercial electric vehicle statistics for November were formed by Renault Kangoo Z.E. with 26 vehicles and NISSAN e-NV200 with seven units.
