President of Ukraine Volodymyr Zelensky signed the law On Amendments to the Tax Code of Ukraine regarding the abolition of taxation of income received by non-residents in the form of payments for the production and/or distribution of advertising, and improvement of the taxation procedure for value added tax transactions for the supply of electronic services by non-residents to individuals No. 1525-IX, which the Verkhovna Rada adopted on June 3. The website of the head of state reports that the document defines a special taxation procedure for value added tax of non-resident companies that provide electronic services to persons residing in Ukraine.
“This will allow increasing state budget revenues from VAT. Such taxation rules are already becoming a common practice in foreign countries, for example, in the countries of the European Union, Australia, Belarus, Kazakhstan, and the like,” it said.
It is reported that foreign companies that supply electronic services to Ukrainians will be required to register as value-added tax payers using a simplified procedure through a special electronic service if the total amount from the implementation of the relevant transactions exceeds UAH 1 million per year. Non-residents will fill out simplified statements in electronic form in the state or English language.
At the same time, according to the document, transactions for the supply of distance learning services via the Internet are exempted from VAT if this network is used exclusively as a means of communication between a teacher and a student. Also, transactions on the supply of educational services by access to public educational, scientific and information resources on the Internet from the branches of knowledge and specialties in which the training of applicants for higher education is carried out are exempted from value added tax, if their implementation and provision does not require human participation.
From January 1, 2022, Ukrainian companies which pay for services for the production or distribution of advertising abroad, will be exempted from VAT.
The Council of the National Bank of Ukraine (NBU) at a meeting on June 23 called on the NBU Board and the Cabinet of Ministers to speed up the drafting of bills on the regulation of cryptocurrencies, NBU Council Head Bohdan Danylyshyn has said.
“The NBU Council, in particular, decided to approve the recommendations […] to the NBU Board and the Cabinet of Ministers in order to minimize the risks of macro-financial stability in connection with the spread of transactions with virtual assets, and to accelerate the preparation of legislative acts on the regulation of the market of virtual assets and transactions with them,” the head of the Council wrote on Facebook on Wednesday.
According to Danylyshyn, the Council also recommended the NBU Board to analyze the impact of the spread of transactions with virtual assets on the activities of central banks, in particular, on the monetary and financial stability polices, the development of payment technologies and the emergence of new regulatory processes (RegTech).
JSC Ukrzaliznytsia has signed an agreement with PJSC Kriukov Car Building Works (KCBW) on the supply of 100 new passenger cars.
“This story had a success!” Ukrzaliznytsia signed an agreement with KCBW for the supply of 100 passenger cars. For the first time in the history of the country, such a number of cars will be purchased at the expense of the state,” Head of Ukrzaliznytsia Ivan Yuryk wrote on his Facebook page.
He said that these will be cars of domestic production. Accordingly, Ukrzaliznytsia with this purchase will support machine building and the country’s economy.
According to Yuryk, the wishes of passengers were taken into account in the development of technical documentation. Consequently, the company will receive modern carriages, in which everything to the smallest detail will be provided for the comfort of passengers.
As noted in a posting on the Ukrzaliznytsia’s website, the first batch of cars – at least 20 units – will be delivered by the end of this year.
“These cars will be used to transport passengers on the most popular routes. All cars under the signed agreement are to be delivered by the manufacturer by the end of next year. That is, they will enter the routes before the peak winter traffic of the 2022/23season,” Yuryk said.
The company also said that in 2021-2023, UAH 40.4 billion can be allocated from the state budget of Ukraine to renew the passenger rolling stock.
Earlier, the Antimonopoly Committee of Ukraine recognized the provision of these funds as admissible state aid to Ukrzaliznytsia.
According to information posted in the ProZorro platform, KCBW will supply these 100 cars for UAH 3.042 billion. The purchase included four lots with the following items: 51 compartment cars, 12 luxury cars, 20 compartment cars with the ability to transport people with disabilities in a wheelchair, 17 compartment cars with a train manager’s compartment and with the ability to transport people with disabilities in a wheelchair.
Ukrzaliznytsia announced a tender for the purchase of 100 passenger cars with a total estimated cost of UAH 3.044 billion through the ProZorro state electronic platform in February this year.
In 2020, Ukrzaliznytsia acquired 28 new passenger cars for its own funds, compared with 19 in 2019. Thirteen cars were overhauled, and 439 cars passed first degree overhaul.
Nikopol Ferroalloy Plant (NFP, Dnipropetrovsk region) in January-May this year increased production by 12.5% compared to the same period last year, to 259,690 tonnes.
As the Ukrainian Association of Producers of Ferroalloys and Other Electrometallurgical Products told Interfax-Ukraine, in the five months, the plant increased production of silicon manganese by 9.6%, to 236,710 tonnes, and ferromanganese – by 53.9%, to 22,980 tonnes.
In May, 59,290 tonnes of ferroalloys were produced.
Nikopol Ferroalloy Plant is Ukraine’s largest ferroalloy smelter. It uses imported and domestic raw materials for the production of ferroalloys.
Nikopol plant is controlled by EastOne Group, established in autumn 2007 as a result of restructuring of Interpipe Group, and Privat Group, both based in Dnipro.
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