“Get out of the spot” or TAX ON WITHDRAWN CAPITAL for the magazine “Ukrainian Advocate”
In the number No 7-8 (143-144) July-August 2018 of the magazine "Ukrainian Advocate", Head of the department of international and investment law, Attorney-at-Law - Lyubov Ignatova gave a general overview of the Draft Law of Ukraine “On Amendments to the Tax Code related to the tax on withdrawn capital” №8557.
“According to the Draft Law from January 1, 2019 the income tax will be substituted for tax on withdrawn capital.
The Draft Law stipulates that corporate income tax payers registered with the controlling authorities as of December 1, 2018 (except for banks) will be automatically included in the Register of Tax on Withdrawn Capital Payers by December 31, 2018. The authors of the Draft Law provide that the data of the said Register will be published on the official website of the State Fiscal Service of Ukraine.
The Draft Law determines directly the operations on withdrawal capital and operations equated to the operations on withdrawal capital.”
Read in the new issue of “Ukrainian Attorney” No 7-8 (143-144) July-August 2018 or by link (Ukrainian language)