The increasing costs of doing business, generating constraints in access to public resources, undermining the rule of law, delegitimizing the state — this is a quite shallow view of the impact of corruption. In response to huge pressure from within the country and the outside world, Ukraine took the path of adopting special anti-corruption national legislation and establishing appropriate institutional capacities...
The BEPS Action Plan (Base Erosion and Profit Fiction) worked out by G-20, provides new requirements to transfer pricing documentation. “This is due to the fact that the tax authorities, while monitoring transaction taxation, experience difficulties in understanding the fact as to how a product or service value chain is formed, says Yaroslav Romanchuk, managing partner of International Legal Center EUCON. This fact gives opportunities for abusive practices and the tax authorities try to fill this gap”...
Lana V. Sinichkina, Mariia V. Baranovych, Yevgeniya V. Ocheretko
In the last two years the anti-corruption legislation of Ukraine has been drastically amended. The most significant influence on business operations should be expected from recent developments in this sphere.
On 26 April 2015 the new Corruption Prevention Act of 14 October 2014 came into force. This Act stipulates a number of limitations and requirements for private companies and their employees...
Daniyil E. Fedorchuk
The English language term УwhistleblowerФ is generally understood as referring to an individual informant (employee or civil servant) reporting abuse, corruption, gross mismanagement or other accounts of non-compliance committed by his/her employer (either private or public) (Уsounding the alarmФ).
Ukraine saw gloomy times of the totalitarian dictatorship with mass persecutions and arbitrary executions, often following false reports from secret informants (who included neighbors, co-workers, and even family members), and public opinion with regard to whistleblowers has historically been controversial...
Mariana V. Marchuk
The term compliance has emerged in its current sense in the business environment in the USA within the last 30-40 years and refers to the†system of internal regulations and measures implemented by commercial and non-commercial entities to ensure adherence to laws, as well as to specific industry standards, trade customs and regulations. Currently, in international business, this term also covers the system of control an entity uses to ensure that its directors, managers and other employees, as well as contractors and authorized representatives, adhere to all regulations applicable to the business, whether local or foreign...†
DLA Piper advised Crown Agents†
Asters Ч legal counsel to International Finance Corporation
AEQUO and CMS support the deal on acquisition a stake in Cilkum Holding
QBE sells its insurance operations to Fairfax
Sayenko Kharenko Ч legal counsel to EBRD
Masha and the Bear postcard case set for new trial
Deutsche Bank is fined for violating US sanctions
Currency peg in loan declared illegal
Two Drafts on ensuring transparency of AMCU activity adopted in the first reading
New Labor Code passed in first reading
Transparency of the AMCU
Meeting with Valeria Gontareva, Governor of the National Bank of Ukraine
Chamber Energy Committee Meeting
1st UBA Forum on Insolvency Law: Debt. Restructuring. Bankruptcy
Business Ombudsman Council saved businesses UAH 152 million
S&P has assigned default rating to Kiev
European Commission clears Avago's acquisition of Broadcom
Pfizer and Allergan to merge
Foreigners may be enrolled to armed forces
Sergey A. Kalitenko, Sergey A. Sushko
The УselflessФ actions of law-enforcement bodies in Ukraine with the aim of fighting to ensure compliance of legislation eventually resulted in manifold gross violation of the law. Furthermore, such actions on the part of law-enforcement officers may serve as a reason for serious international investigations and conflicts. Let us review the situation that took place in detail.
We all remember the annexation of Crimea by the Russian Federation in spring 2014. Of course, both Ukraine and the international community disapprove of such actions and treat them as gross violation of the international law...
The criminal justice system in Ukraine has to be profoundly transformed as the policy of harmonization with the EU is at the heart of every reform in the country. Many politically sensitive questions that we asked our speakers Vitaliy Serdyuk and Olga Prosyanyuk, partners of AVER LEX attorneys at law, are considered with a precise legal point of view. The conversation probably proved that the first rule of a defense attorney is to keep a cool head in this sophisticated area of criminal justice...
Oksana A. Borovets, Olga V. Anufriieva
On 5 October 2015 the OECD published its final package of 15 action plans designed to prevent tax base erosion and profit shifting. One of the actions, which could become relevant to Ukrainian companies in the near future, is changes to the permanent establishment (further Ч УPEФ) concept.
A foreign company may have different levels of business presence in Ukraine and some of the activities may be considered as a PE creating a taxable presence in Ukraine...
Dmitriy L. Sykaluk, an associate with DLF attorneys-at-law
One of the most common kinds of violation of Ukrainian currency legislation is breach of the import-export transactions procedure. Breach of this procedure is not always a consequence of a fault of a business entity, including a foreign company. It is also worth mentioning that sanctions for breach of the import-export transaction procedure may significantly complicate the activities of a foreign company and block its supplies to Ukraine...
The first days of November of the Ukrainian Parliament will stick in the memories for consideration of a bulk of long-expected documents. Thus, in the first reading was approved the Draft Labor Code of Ukraine as well as several Draft Acts in the sphere of antimonopoly regulation were adopted (No.2431, No.2168a). In this section our editorial staff have enlisted experts to comment upon the key novelties of the new Labor Code and to discuss the recent changes in antimonopoly regulations...
Clifford Chance Kyiv re-established as independent law firm Redcliffe Partners
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