Business news from Ukraine

Business news from Ukraine

UKRAINE’S PRESIDENT SIGNS LAW ON COPYRIGHT PROTECTION

President of Ukraine Petro Poroshenko has signed the law on effective management of copyright in the sphere of copyright and related rights (passed by parliament under No. 7466), which establishes rules for the operation of collective copyright management organizations, according to the website of the Verkhovna Rada. Some 246 people’s deputies on May 15 supported this document after in late April the United States had canceled duty-free import of a number of goods from Ukraine because of copyright infringement.
The law notes that a collective copyright management organization is a registered public association with the status of a legal entity that does not have the purpose of making profit, founded solely by copyrights holders, whose activities are aimed at collective management of property rights to objects of copyright and (or) related rights.
The document establishes the procedure and requirements for accreditation and registration of such organizations, specifies the content of the register of such unions, and regulates the issues of collection, distribution and payment of remuneration to copyright holders.

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UKRAINE’S PRESIDENT VETOES LAW ON LIMITING DOMESTIC USE OF UNPROCESSED TIMBER AND TEMPORARY EXPORT BAN

Ukraine’s President Petro Poroshenko has vetoed the law adopted by the Verkhovna Rada on limiting domestic consumption of raw timber to 25 million cubic meters per year and on a temporary ban on timber exports. As reported on the website of the Ukrainian parliament, the relevant bill (No. 5495) on July 23, 2018 was returned with president’s proposals, which are not currently available on the parliament’s website.
As was earlier reported, on July 3, 234 deputies passed the bill (No. 5495) on making amendments to some laws of Ukraine concerning the preservation of Ukrainian forests and preventing the illegal export of unprocessed timber in the second reading and as a whole.
According to amendments taken into account in the second reading of the document, administrative and criminal liability for illegal logging and its timber exports outside customs control (smuggling) has been significantly strengthened.
The Code of Ukraine on Administrative Offenses, in particular, introduces a clause according to which illegal cutting and transportation, storage of illegally cut trees entail the imposition on citizens of a fine of 15 to 30 non-taxable minimum incomes of citizens (1 non-taxable minimum – UAH 17), and on officials – from 75 to 150 non-taxable minimum incomes of citizens (in current legislation – from five to ten and from seven to 12 non-taxable minimum incomes of citizens, respectively).
In case of a repeated offense within a year, the amount of the fine is from 30 to 60 non-taxable minimums for citizens from 300 to 600 for officials. In addition, according to changes in Ukraine’s Criminal Code, movement across the customs border of Ukraine outside the customs control or concealment from the uncontrolled control of unprocessed timber or sawn valuable or rare species is punishable by imprisonment for three to five years.
The same actions that have been committed repeatedly or by prior conspiracy by a group of persons or an official using his official position are punishable by imprisonment for a term of five to ten years, with deprivation of the right to occupy certain positions and with confiscation of property. If these actions are committed by an organized group of individuals or on a particularly large scale, a penalty of imprisonment of ten to 12 years is provided, with deprivation of the right to engage in certain activities for three years and with confiscation of property.

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POROSHENKO SIGNS LAW ON IMPLEMENTING PROJECT FINNISH SUPPORT FOR UKRAINIAN SCHOOL

President of Ukraine Petro Poroshenko has signed the law on ratification of the agreement between the government of Ukraine and the government of Finland on implementing the project “Finnish Support for the Ukrainian School Reform,” the presidential press service has reported. The Verkhovna Rada passed the law on July 3, 2018. The agreement between the governments of Ukraine and Finland on implementing the project “Finnish Support for the Ukrainian School Reform” was signed in Kyiv on March 5, 2018.
The document is the legal basis for the effective implementation of the project and attraction of technical assistance from the government of Finland in support of the reform of general secondary education in Ukraine.
According to the agreement, within the framework of the project it is planned to attract up to EUR6 million of technical assistance from Finland to support the reform of secondary education in Ukraine. The project will be implemented in 2018-2021.

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NEW NOTARY FORM AND RULES FOR REAL ESTATE PURCHASE CONTRACTS APPROVED IN UKRAINE

The Cabinet of Ministers of Ukraine has approved the form and the rules for presenting reports on the signed real estate sale and purchase contracts and payment of obligatory pension insurance tax by notaries. “Notaries quarterly, until the 20th day of the month following the reporting quarter, are required to submit a report on the signed immovable property sale and purchase contracts and payment of the compulsory pension insurance tax to the Pension Fund authorities at the location of the notary public office or private notary’s workplace using the approved form,” the press service of the Ministry of Social Policy said, citing a government decision.
According to the decision, real estate purchase and sale contracts are endorsed by notaries with documentary evidence of the payment of the levy on transactions on purchase and sale of real estate.
When endorsing sales contracts, a notary shall verify the payment of the fee by the buyer and demand the respective documents.
“The form of the report on the signed immovable property sale and purchase contracts contains information on the number of concluded real estate purchase and sale contract, the value of the property and the amount of the compulsory pension insurance tax paid,” the press service said. The implementation of the resolution makes it possible to improve control over the payment of the tax and ensure the completeness of revenues sent to the national budget

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