A supervisory board of Raiffeisen Bank Aval has appointed former first deputy governor of the National Bank of Ukraine (NBU), Oleksandr Pysaruk, as Raiffeisen Board Chairman. According to the bank’s posting on its website, this appointment was made as a part of the thorough picking up of a successor to the incumbent сhair of the supervisory board, Volodymyr Lavrenchuk, who has been holding this position for 14 years.
The board’s decision should be approved by the state supervision agencies.
Pysaruk held the post of NBU first deputy governor since July 2014 and by the end of 2015.
In 2019 Ukraine is required to implement new international tax rules at the legislative level in accordance with its obligations . How not only to lose from their introduction, but also to win – will be discussed by representatives of the authorities, consultants and business at the National Forum “INTERNATIONAL TAXATION: TRANSFORMATION OF BUSINESS” in Kiev on September 20 .
The new government’s strategies and first steps towards changing the rules of international taxation, combined with best-in-class consultancy practices, will be on the focus of the International Forum for International Taxation: BUSINESS TRANSFORMATION 20 September at the Park Inn Hotel in Kiev .
Due to loopholes and inconsistencies in national and international tax law, companies reduce or evade income tax liabilities, which causes Ukraine to lose budget revenues. Ukraine has announced changes to all 77 tax treaties it has signed. Recall that on February 28 this year, the Verkhovna Rada ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) .Thus , the new Parliament will immediately submit bills to counteract the erosion of the tax base and profit under taxation.
2020 or 2021? What and when does the President, the new Verkhovna Rada and the Government implement the world transparencies of business in Ukraine?
What to change this autumn in the legislation of Ukraine with regard to strengthening the control of international transactions?
What should business do for normal operation in the new global transparency?
When and how is the automatic information exchange system operating in Ukraine?
What will be the strength of TP control in 2019-2020?
How to minimize risks in the new conditions?
How to protect business from the pressure of controlling bodies and avoiding penalties?
Forum Speakers :
Gabriela Miranda , Project Manager in Ukraine , Eurasia Program, OECD
Sergey Verlanov , Chairman of the DPS
Danylo Getmantsev , Member of Parliament of the 9th convocation , President of the Association of Tax Advisers
Elena Makeeva , Chairman of the Board of Directors Audit firm ” Aksenova and partners ”
Geneva Group International, Deputy Minister of Finance (2015-2016), Advisor
performing duties of head of DFS
Anna Sergiychyk, Manager of RoyaltyRange
Maksym Lavrynovych, Managing Partner, Lavrynovych & Partners Law Firm
Dmytro Savchuk , Associate Partner, Lavrynovych & Partners Law Firm
Tetyana Ostrykova , Member of Parliament of Ukraine, 8th convocation, eepert in international taxation
Nina Yuzhanina , Member of Parliament of Ukraine, 9th convocation
Alexander Lepetyuk , Acting Director of the Department of Transfer Pricing and International Taxation of the State Tax Service of Ukraine
Lyudmila Palamarchuk , Director of the Department , Ministry of Finance of Ukraine
Oleksiy Zadorozhny, Head of the Department of Profit Tax Methodology of the Department of Methodological and Rulemaking Work of the State Fiscal Service of Ukraine
Yevhen Kozlov, Senior Project Manager, Reform Support Office at the Ministry of Finance of Ukraine
Evgeniya Abrosimova , Partner, Head of the Transfer Pricing Department of Audit- Invest I
Ivan Shynkarenko, Partner, KM Partners
Oleksandr Shemyatkin , Partner, KM Partners
Vyacheslav Kruglyak , Head of the Transfer Pricing Audit Department of the State Fiscal Service of Ukraine
Tatiana Savchuk, auditor of ID Legal Group . Head of ID Legal Transfer Pricing Practice
Group
Tatiana Kamenska , Chairman of the Audit Chamber of Ukraine
Irina Sivolap , Head of the Interaction Department for Transfer Pricing of the State Fiscal Service of Ukraine
Olga Yelchenko , managing partner of “Audit- Invest ”
Andrey Segal , lawyer, contract partner of AMBER Law Firm
Victoria Fomenko , partner, head of the practice of tax and customs law international law firm « INTEGRITES »
WE WELCOME TO PARTICIPATE:
CEOs, CFOs, heads of financial and tax services, chief accountants and heads of legal departments of leading Ukrainian and international companies.
REGISTRATION on the FORUM: (https://rating.zone/event/20-september-2019/)
by phone: +380 (44) 394 88 83, +380 (93) 029 84 07 , or e- mail : info@rating.zone
The Forum is held with the participation of the Verkhovna Rada Committee on Tax and Customs Policy, the Ministry of Finance of Ukraine and the State Tax Service of Ukraine. Partners of the Forum are: – RoyaltyRang e – Strategic Partner; Audit- Invest is a partner; Forum partners -, ID LEGAL GROUP , UK ” Amber “, Law firm EUCON , Law firm “KM Partners” , Integrites , OOO “Borey”. Information partners – Interfax-Ukraine – General News Partner; Ukraine Business Review; Ukrainian News Agency, Observer , ACC , MaxEvents , TAX Link .
Organizers Forum: Journal “Rating. Business in official numbers, Market.Info Agency .
Official rates of banking metals from national bank as of August 20
One troy ounce=31.10 grams
National bank of Ukraine’s official rates as of 20/08/19
Source: National Bank of Ukraine
The non-banking financial institutions of Ukraine in January-June 2019 showed active development dynamics.
Oleksandr Zaletov, a member of the National Commission for the State Regulation of the Financial Services Market, told Interfax-Ukraine that the work of the commission for clearing from unreliable players continued in the first half of 2019, which allowed withdrawing 104 supervised institutions from the market, including 42 financial companies, 37 insurance companies, 16 pawnshops, eight credit unions, six lessors, and one non-state pension fund.
According to him, despite the decrease in the number of financial institutions, the capitalization of the non-banking financial services market has increased significantly, in particular, the assets of financial institutions as of June 30, 2019 exceeded UAH 215 billion, which is 14% or UAH 46.2 billion more than on the same date in 2018. At the same time, the total assets of insurers grew by more than UAH 8 billion, or 14%, in particular those of life insurance companies by UAH 1.5 billion, or 13.6%, risk insurance companies by UAH 6.5 billion, or by 14.1%. The total value of financial companies’ assets rose by UAH 37.8 billion, or 36.6%, credit unions by UAH 65 million, or 2.8%, and pawnshops’ assets by UAH 24 million, or 0.3%.
Zaletov noted the stability of the positive trend in the regional expansion of non-banking financial institutions: in the six months, financial companies registered 653 branches and representative offices, pawnshops some 447, insurance companies some 21, credit unions some 18. This made it possible to ensure not only the availability of non-banking financial services in the regions of Ukraine, but also to create new jobs with tax payments to local budgets.
Skyrizon Aircraft, a Chinese private company, and Xinwei Technology Group listed on the Shanghai Stock Exchange under the terms of agreements with Ukroboronprom state concern will provide Ukraine’s aircraft manufacturing industry with grant financing in the amount of $100 million in case of obtaining permission from the Antimonopoly Committee of Ukraine (AMC) to purchase more than 50% of shares in PJSC Motor Sich (Zaporizhia), an informed source in the government has told Interfax-Ukraine.
“The receipt of these funds in the special fund is already provided for in Paragraph 9 of Article 11 of the law on the national budget of Ukraine for 2019: some UAH 2.8 billion at the exchange rate at the time of adoption of the state budget,” the source said.
He noted that this condition is one of the key in agreements between the Chinese investors and Ukroboronprom approved by the government together with the transfer to the Ukrainian state corporation of a blocking stake in the amount of more than 25% of the shares for the joint management of Motor Sich.
The source noted that this project on the development of aircraft production in Ukraine and the construction of semi knocked-down production in the Chinese city of Chongqing was launched in 2015 on the basis of cooperation agreements between Motor Sich, Skyrizon and Xinwei Group. Within its framework, the Ukrainian company in 2016 received preferential credit financing in the amount of $100 million, and in Chongqing the construction of an assembly plant has now begun.
The basic document for the project is the agreement on cooperation dated April 27, 2018 between Ukraine represented by Ukroboronprom and Skyrizon and Xinwei, which underwent an independent examination of British law by one of the world’s largest law firms, the source said.
