The Ukrainian Journal of Business Law

[index.html] ABOUT CURRENT ISSUE SUBSCRIBE & ORDER ADVERTISE EDITORIAL CALENDAR GET PUBLISHED CONTACT UJBL: current issue May 2005 In Focus - Profit Tax Considering recent amendments and changes, drafted to tax legislation, May 2005 issue of the Journal presents the translation of the full version of the Taxation of Profit of Enterprises Act of Ukraine, adopted on 28 December 1994. Leading lawyers comment major issues of the profit tax liabilities in Ukraine, stressing the most disputive challenges of the appropriate procedures. The Journal also presents hot news of the legal market and keeps you in touch with the current events of business community of Ukraine. Official Documents Published Taxation of Profit of Enterprises Act of Ukraine of 28 December 1994 Expert Opinion Alexander A. Minin Deductibility of Expenses for Profit Tax Purposes "What expenses may be deducted for profit tax purposes?" is one of the most frequently asked questions in relation to corporate profit tax. Yet, while the Profit Taxation Act remained basically unchanged in this respect for 8 years, the answers varied significantly during this period. The reason for such a variety of views under the same basic law provisions was principally of a psychological and historical nature… Hot Issue Oleh O. Beketov Legal Structure for Private Equity Funds in Ukraine The legal structure of a private equity fund is a crucial issue for any investor who decides to invest in a fund in certain industries and in particular countries. Different legal regimes provide different rules for the creation and operation of private equity and venture capital funds. This article addresses the issue of legal structures for private equity funds provided by Ukrainian law and sets out the pros and cons for investors who decide to make investments in the respective structure… Evgenia N. Derbal Big Changes to Ukrainian Tax Legislation In this article we will consider the current changes in Ukrainian tax legislation regarding the adopted Act No.2505-IV. The Act made changes to the Budget Act for 2005 and to basic Ukrainian tax legislation. But before we proceed to the changes themselves we should attract your attention to the practice of passing tax provisions… How to… Tatiana I. Zamorska …Apply Withholding Tax on Non-Residents' Income from Transactions with Ukrainian Securities On the basis of the Resolution of the National Bank of Ukraine of 14 October 2004, No.482, foreign investors were obligated to route the profits obtained from investment activities in Ukraine through so-called 'investors' accounts' opened in local banks. This made settlements between non-residents for Ukrainian securities, which were formerly performed outside of Ukraine, and thus generally not taxed in Ukraine, potentially subject to withholding tax. In this article the author highlights the key issues regarding application of Ukrainian withholding tax to non-residents' profits (income) from the sale of securities (such as shares/participating interest) in Ukrainian companies… Global Legal Update Russia: Banking & Finance This traditional section presents the recent information from the Russian banking and finance area. The recent changes in Russian legislation seem to be of great use also for Ukrainians. Legal Writing Alexander I. Moskalenko Common Mistakes in Legal Writing Almost everything we need to know about legal writing can be summarized in one principle: write to communicate. Anything you write that interferes with the reader's ability to understand - no matter how good it sounds - is wrong. This is my understanding of "mistakes". And, in my opinion, the most common "mistakes" in legal writing are the ones that make a significant percentage of legal writing difficult to understand. These are "the mistakes" I am going to describe… About | Current Issue | Subscribe & Order | Advertise | Editorial Calendar Get Published | Contact Counse link Konnov & Sozanovsky 23 Shota Rustaveli Street, Suite 5, Kiev, 01023, Ukraine phone: + 380 (0)44 490-5400 fax: + 380 (0)44 490-5490 info@konnov.com www.konnov.com Chadbourne & Park LLP 11 Mikhailivska Street, Kiev, 01001 Tel: (044) 464-0204 Fax: (044) 464-0231 kyivoffice@chadbourne.com www.chadbourne.com Shevchenko Didkovskiy & Partners 2A Kostyantynivska Street, Kiev, 04071 Tel: (044) 230-6000 Fax: (044) 230-6001 lawfirm@shevdid.com www.shevdid.com Vasil Kisil & Partners 5/60 Zhylianskaya Street, Suite 1-2, Kiev, 01033 Tel/fax: (044) 220-5900 Tel/fax: (044) 220-4877 vkp@vkp.kiev.ua www.kisilandpartners.com Yuris Legal counsellors and advisers 4-6 Striletska Street, Fourth Floor, Kiev, 01025 Tel: (044) 235-8648, (044) 235-8649 Fax: (044) 235-8643, (044) 235-8646 yuris@carrier.kiev.ua tax@yuris.com.ua www.yuris.com.ua Copyright © 2003-2005 by Yuridicheskaya Practika Publishing. All rights reserved. Disclaimer .