The Verkhovna Rada of Ukraine adopted the Law “On Amendments to the Tax Code of Ukraine and some other laws of Ukraine concerning the financial bills” of 04.07.2013 № 407-VII. This law defines the procedure for budgetary compensation of VAT by receiving of financial treasury bills. Until 1 January 2014 treasury services authorities will issue to a taxpayer who claimed VAT refund by receiving of financial treasury bills, the required amount in the form of financial treasury bills with maturity of up to five years with the yield at the 5% per annum.
The Verkhovna Rada of Ukraine made changes to the Law “On the Depository System of Ukraine”, which clarified that, the Clearing Center for Contracts Traded on Financial Markets – the bank which operates in the form of a public joint stock company in accordance with the Law “On Banks and Banking”. In addition, from the law is withdrew the provision under which authorized capital of the Clearing Center for Contracts Traded on Financial Markets should be less than 100 million UAH.
The Verkhovna Rada of Ukraine adopted and the President signed the Law of Ukraine “On the disposal of vehicles” of 04.07.2013 № 421-VII, which defines the legal, organizational and economic frameworks of activities related to the disposal of vehicles on the territory of Ukraine. In particular, the Law establishes the requirements to vehicles reception depot, vehicle disassembly points, as well as the requirements for entities that manufacture (produce) vehicles and commit themselves to provide the recycling of their own production vehicles.
The Verkhovna Rada of Ukraine adopted and the President signed the Law “On Introduction of Amendments to Certain Legislative Acts of Ukraine Concerning State Registration of Ownership Rights on Immovable Property and Encumbrance Thereof” of 04.07.2013 № 402-VII. The Law, in particular, clarified that the reciprocal rights and obligations of mortgagor (collateral provider) and mortgagee (mortgage holder) arise from the moment of state registration of the mortgage loans. In addition, provided that the transfer of a mortgage by endorsement provides to the endorsee all rights of mortgagee under a mortgage agreement and the principal obligation. Endorsee acquires the rights of a mortgagee after state registration of information about the collateral in accordance with the law.
The Cabinet of Ministers of Ukraine by the resolution “Some questions of valuation for taxation purposes and the accrual and payment of other obligatory payments collected in accordance with the law” of 01.08.2013 № 501 clarified that the valuation reports of the property carried out in accordance with the Procedure on valuation for taxation purposes and the accrual and payment of other obligatory payments, approved by Resolution № 231 of 4 March 2013 with the same name, is used since 1 November 2013, but not since 1 August 2013.
The Ministry of Revenues and Duties of Ukraine by the letter № 3492/6/99-99-15-03-01-16 of 27.05.2013 clarified some issues of immovable property tax payment other than land. Ministry reported that the residential properties owned by enterprises based on the mixed form of ownership are exempt from taxation on immovable property other than land. This applies to residential properties owned by the state or territorial communities (their joint ownership).
The Ministry of Agrarian Policy and Food of Ukraine by the order № 383 of 18.06.2013 approved the form of documents submitted to customs authorities for import into the customs territory of Ukraine of materials, components, assemblies and/or components for the production of machinery and/or equipment for agriculture. It is referred to conclusion’ form that products with similar quality characteristics are not produced in Ukraine and the form of obligations by company for use of the imported goods for its own production.
The Ministry of Energy and Coal Industry of Ukraine by the order № 375 of 14.06.2013 approved the Rules for the labor protection in the production of inorganic phosphorus compounds, which apply to all entities regardless of ownership and organizational and legal forms, engaging in the manufacture of chemical substances and chemical products.
The Ministry of Agrarian Policy and Food of Ukraine by the order № 285 of 30.04.2013 approved:
- application form on the territory regarding the evaluation of its compliance to specific raw materials zones;
- form of agro-ecological feasibility studies;
- form of the commission's conclusions on the possibility of special status granting to the manufacturer of raw material resource zone;
- form of submission on primary producer’ introducing in the register of special raw areas.
The Ministry of Ecology and Natural Resources of Ukraine by the order № 263 of 14.06.2013 approved the Procedure on state registration of works and studies related to the geological study of earth interior, which establishes an uniform procedure for state registration of works and studies related to the geological survey of earth interior in order to prevent duplication of further study of earth interior’s geological structure, identification and soil appraisal, environmental study of the geological terrain, clarifying of mining and technical, hydro geological and other conditions by mineral deposits exploitation and the use of earth interior for purposes other than mining of minerals.
The Ministry of Finance of Ukraine by the order № 561 of 28.05.2013 approved the Regulations on the implementation of financial monitoring by initial financial monitoring entities, government regulation and oversight of which is exercised by the State Service for Financial Monitoring of Ukraine.
The National Securities and Stock Market Commission of Ukraine (NSSMC) by the order № 992 of 11.06.2013 approved the Regulation on the reporting procedure by depository institutions to the NSSMC, which applies to legal persons licensed to perform professional activity on the stock market – depository activities of depository institutions, fiduciary activities of collective investment institutions, fiduciary activities of pension funds, including those which had the right under the law to carry out of this professional activity during the administrative data submitting period.
The National Commission for Regulation of the Electric Power Sector of Ukraine (NCRE) by the resolution № 899 of 11.07.2013 approved the Procedure for determining the regulatory asset base of natural monopoly entities the electricity sector, which establishes a mechanism for determining by licensees of regulatory asset base, asset groups included in the regulatory asset base of licensees, their useful lives and method into their account for the necessary income calculating from operations for the supply of electricity at regulated tariff and/or activity on electric power transmission by territorial (local) electric networks.
