The information in this book is based on taxation law, legislative
proposals and current practice, up to and including measures
passed into law as of 1 May 2007. It is intended to provide a
general guide only on the subject matter and is necessarily in a
condensed form. It should not be regarded as a basis for
ascertaining the tax or any other regulatory liability in specific
circumstances. Professional advice should always be taken
before acting on any information in the guide.
Contents
Partner letter
Office locations in Ukraine
1 Country profile and investment climate
1.1 Introduction
1.2 Government structure
1.3 Legal system
1.4 People
1.5 Economy
1.6 Foreign trade
1.7 Further reading
2 Business environment
2.1 Business climate
2.2 Economic development plans
2.3 Free trade zones
2.4 European Union, NATO
2.5 International agreements
2.6 Legal environment
2.7 Property market
2.8 Foreign investor associations
3 Foreign investment and privatisation
3.1 Foreign investment
3.2 Privatisation
4 Banking, finance and insurance
4.1 Banking system
4.2 Foreign currency rules
4.3 Specialised financial institutions
4.4 Investment institutions
4.5 Capital markets
4.6 Insurance
5 Importing and exporting
5.1 Trends in customs policy
5.2 Import restrictions
5.3 Customs duties
5.4 Temporary import relief
5.5 Customs duties incentives
5.6 Documentation and procedures
5.7 Warehousing and storage
5.8 Exports
5.9 Protection of intellectual property rights
6 Business entities
6.1 Legal framework
6.2 Forms of business organisation
6.3 Net asset requirement
6.4 Limited liability companies
6.5 Joint stock companies
6.6 Foreign directors
6.7 Partnerships and joint ventures
6.8 Branches
6.9 Representative offices
7 Labour relations and social security
7.1 Labour relations and the Labour Code
7.2 Working conditions
7.3 Social security system
7.4 Foreign personnel
8 Accounting and audit requirements
8.1 Accounting
8.2 Chart of accounts
8.3 Audit requirements
9 Tax system and administration
9.1 Tax system
9.2 Direct and indirect tax burden
9.3 Principal taxes
9.4 Legislative framework
9.5 Tax treaties
9.6 Administration of the tax system
9.7 Registration requirements
9.8 Tax returns and payments
9.9 Assessments
9.10 Appeals
9.11 Withholding taxes
9.12 Tax audits
9.13 Penalties
9.14 Tax clarifications
10 Taxation of corporations
10.1 Corporate tax system
10.2 Incentives
10.3 Gross income
10.4 Deductibility of expenses
10.5 Related party transactions
10.6 Other taxes
10.7 Holding companies
11 Taxation of individuals
11.1 Territoriality and residence
11.2 Private entrepreneurs
11.3 Gross income
11.4 Tax_exempt income
11.5 Deductions
11.6 Foreign tax credits
11.7 Taxation of non-residents
11.8 Tax compliance
12 Value added tax
12.1 Introduction
12.2 Taxable activities
12.3 Scope of VAT
12.4 Zero-rating
12.5 Exempt supplies
12.6 Taxable amount
12.7 Input tax credits
12.8 VAT compliance
13 PricewaterhouseCoopers in Ukraine
Assurance services
Advisory services
Tax and legal services
Appendices
Appendix A _ Hints for business visitors
Appendix B _ Useful sources of information
Appendix C _ Withholding taxes as at 1 January 2007
Appendix D _ Selected customs duties and excise tax rates
Appendix E _ Short form Chart of Accounts under Decree No. 291
Legal Disclaimer: The material contained in the brochure is provided for general information purpose only and does not contain a comprehensive
analysis of each item described. Before taking (or not taking) any action, readers should seek professional advice specific to their situation. No liability is
accepted for acts or omissions taken in reliance upon the contents of this publication.
© 2007 PricewaterhouseCoopers. All rights reserved. "PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers
International Limited, each of which is a separate and independent legal entity. | 
ABOUT UKRAINE