KYIV. Oct 31 (Interfax-Ukraine) – PJSC Ukrtransgaz and French company Engie have signed an agreement on cooperation for natural gas storage in Ukrainian underground gas storage facilities (UGS).
“Prime Minister of Ukraine Volodymyr Groysman and Minister of Economy and Finance of France Michel Sapin on October 28 took part in signing an agreement between Engie and PJSC Ukrtransgaz,” the press service of the Cabinet of Ministers said.
According to the report, the signing ceremony was held before the start of the French-Ukrainian business forum in Paris.
According to the document signed, Engie gained the possibility to store gas in Ukrainian underground gas storage facilities.
KYIV. Oct 28 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has attended the opening of a new company with foreign investments Kromberg and Schubert Ukraine in Oliyivka (Zhytomyr region) for production of electrical and optical equipment.
According to the official presidential website, the event took place during the president’s working visit to Zhytomyr region.
“Your production is the fact that investors vote with dollars, hryvnias, euros for Ukraine’s independence and support the country,” Poroshenko said.
The president noted reforms aimed at creating an attractive investment climate and raising investment are very important for protection of the state.
He stressed the protection of workers and the fight against poverty is the priority for the authorities.
“The key man in Ukraine is a taxpayer. And we will do our best to protect workers,” he said.
Kromberg and Schubert started work in Ukraine in Lutsk in 2004.
KYIV. Oct 28 (Interfax-Ukraine) – Ukraine in January-September 2016 increased exports of electricity by 3.6% (by 97.4 million kWh) compared to the same period in 2015, to 2.834 billion kWh, a source in the Ministry of Energy and Coal Industry has told Interfax-Ukraine.
Electricity supplies from the Burshtyn TPP energy island in the direction of Hungary, Slovakia and Romania in the period decreased by 22.4% (by 601.9 million kWh) compared to January-September 2015, to 2.081 billion kWh.
Electricity supplies to Poland amounted to 749.2 million kWh against 39.4 million kWh in January-September 2015.
In January-September 2016, 3.7 million kWh was delivered to Moldova, Belarus did not received power against 600,000 kWh for the first nine months of last year.
Ukrainian electricity was not exported to Russia in January-September 2016.
In September 2016 exports of Ukrainian electricity amounted to 224.6 million kWh, which is 14% up than in September 2015.
In January-September 2016 Ukraine imported 57.744 million kWh of electricity, including 3.3 million kWh from Russia and 47,000 kWh from Moldova in August.
KYIV. Oct 28 (Interfax-Ukraine) – Kyiv City Council will allocate UAH 200 million from the city budget to improve infrastructure and create a positive image of Kyiv for holding the Eurovision 2017 song contest.
Some 89 deputies voted for appropriate changes to the city targeted program “Capital Culture 2016-2018.”
According to the press service of Kyiv City Council, it is planned in the current year to allocate and use UAH 50 million, the remaining UAH 150 million in 2017.
“The funds will be spent on improving infrastructure and creating a positive image of Kyiv. This is our advertisement at the international level, and we must be ready to accept about 20,000 foreign tourists,” Kyiv City Council deputy Hanna Starostenko said.
As reported, the Cabinet of Ministers at a meeting on October 26 lifted restrictions on spending on preparations for the Eurovision 2017 international song contest in Kyiv.
KYIV. Oct 28 (Interfax-Ukraine) – Prime Minister of Ukraine Volodymyr Groysman during a meeting with French business representatives has urged the businessmen to invest in Ukraine.
“Invest in Ukraine, earn profit, reinvest it and be successful, while we will do our best to promote this,” Groysman said at the opening of the French-Ukrainian business forum in Paris.
The premier said the priority fields for investment are energy, machine building, agriculture, pharmaceuticals, IT, wood processing, light industry and infrastructure.
He said government has established an ongoing dialogue with businessmen to understand its daily issues and respond to emerging difficulties.
“Volodymyr Groysman said economic growth is renewing in Ukraine. According to him, international trade in the country has risen by 25%,” the report reads.
KYIV. Oct 27 (Interfax-Ukraine) – Ukraine’s National Reforms Council has backed the initiative of some business organizations regarding the introduction of tax on removed capital from January 1, 2018.
The press service of the Ukrainian League of Industrialists and Entrepreneurs (ULIE), Head of the parliamentary committee for tax and customs policy Nina Yuzhanina said that a requirement that Ukraine’s Cabinet of Ministers takes liabilities to introduce tax on removed capital instead of profit tax from 2018 is to appear in the transition clauses to the draft Tax Code.
She said that the decision was supported by the president and some lawmakers. The proposal will be handed to the government for approval and then to parliament.
ULIE said that the requirement was initiated by many business associations.
“The business society is convinced: this would help to avoid double-entry bookkeeping, discrediting in taxes, provide equal protection of businessmen by the law and a chance of investing using own capital. The main idea is that not only the funds that are removed from business are taxed: payment of dividends at 15% and others. The funds that are reinvested into business and profit that is left in companies’ working capital are not taxed,” ULIE said.
National Reforms Council approved draft amendments to the Tax Code drawn up by the Finance Ministry jointly with public experts. The amendments foresee the introduction of the single register on VAT refunds, revision of e-administration system and other things. The document is to be approved at a government meeting and submitted to parliament.
