The Ukrainian Journal of Bussines Law

[http://inta.org] Counse link ANTIKA Law Firm 12, Khreshchatyk street, 2-nd floor, Kyiv , 01001 , Ukraine Phone: +38 (044) 390 09 20 Fax: +38 (044) 390 09 21 office@antikalaw.com.ua www.antikalaw.com.ua/en Arzinger 75, Zhylyanska Street., 5th floor, Kyiv , 01032 , Ukraine Phone: +38 (044) 390 55 33 Fax: +38 (044) 390 55 40 mail@arzinger.ua www.arzinger.ua Asters Leonardo Business Center, 14th floor, 19-21 Bohdana Khmelnytskoho St., Kyiv , 01030 , Ukraine Phone: +380 44 230 6000 Fax: +380 44 230 6001 info@asterslaw.com www.asterslaw.com Chadbourne & Parke LLP 25B Sahaydachnoho Street, 3 Floor, Kyiv , 04070 , Ukraine Phone: +38 (044) 461 75 75 Fax: +38 (044) 461 75 76 Kyiv@chadbourne.com www.chadbourne.com CMS Cameron McKenna LLC 6 Floor, 38 Volodymyrska Street, Kyiv , 01034 , Ukraine Phone: (044) 391 33 77 Fax: (044) 391 33 88 kyivoffice@cms-cmck.com www.law-now.com DLA Piper Ukraine, LLC 77A Velyka Vasylkivska Street, Kyiv , 03150 , Ukraine Phone: (044) 490 95 75 Fax: (044) 490 95 77 ukraine@dlapiper.com www.dlapiper.com Gvozdiy & Oberkovych 19b Institutska str., Office 29, Kyiv , 01021 , Ukraine Phone: +38 (044) 581 12 20 Phone: +38 (044) 581 12 21 Fax: +38 (044) 581 12 22 info@gvozdiy.com www.gvozdiy.com International law firm Integrites 15-B Borysohlibska St.,, Kyiv , 04070 , Ukraine Phone: +380†(44) 391 38 53 Fax: +380†(44) 391 38 54 pr@integrites.com www.integrites.com Inyurpolis law firm (ILF) 14-A †Skrypnyka Street,, Kharkov , 61057 , Ukraine Phone: +38†(057)†728 00 00 Fax: +38†(057)†714 06 28 office@ilf-ua.com www.ilf-ua.com Konnov & Sozanovsky 23 Shota Rustaveli Street, Suite 3, Kiev , 01019 , Ukraine Phone: +380 (0) 44 490-5400 Fax: +380 (0) 44 490-5490 info@konnov.com www.konnov.com LCF Law Group 47 Volodymyrska street, Office 3, Kyiv , 01034 , Ukraine Phone: +38 (044) 455 88 87 Fax: +38 (044) 502 55 23 info@lcfgroup.com.ua www.lcfgroup.com.ua/en/ Spenser & Kauffmann 3 Panfilovtsev Street, Kyiv , 01015 , Ukraine Tel./Fax: +38 (044) 288 83 83 office@sklaw.com.ua www.sklaw.com.ua VS Litigation 16/3, M. Zhytomyrska Str., Office 28, Kyiv , 01001 , Ukraine Phone: +380 (44) 227 44 99 Fax: +380 (44) 278 31 73 Kyiv@vslitigation.com vslitigation.com LATEST NEWS January 24, 2012 Avellum Partners advised Interpipe Avellum Partners - Ukrainian legal counsel to Interpipe in connection with the restructuring of its USD887 million credit portfolio. As part of the restructuring, lenders provided the company with the additional funding in the amount of USD136 mill… January 16, 2012 Avellum Partners advised arrangers on USD 100 million syndicated secured loan facility to Milkiland Group Avellum Partners - Ukrainian legal counsel to The Royal Bank of Scotland plc, UniCredit Bank AG, London Branch, Raiffeisen Bank International AG and ZAO Raiffeisenbank, acting as mandated lead arrangers, in connection with a USD100 million syndicate… January 11, 2012 Commercial Contracts and Disputes Resolution Conference FAService is glad to invite the heads of legal departments and in-house counsels to the conference УCommercial Contracts and Disputes ResolutionФ, which is to be held on 9 February 2012 at AKKO International in Kiev. This conference provides an excellent opportunity for business networking and connections with colleagues from leading companies. During sessions you will also discover proven strategies of disputes resolution, hear about the practical aspects of concluding international contracts and international commercial arbitration.… Read more news CURRENT ISSUE ( January-February 2012 ) In focus – Tax Amid weak fiscal conditions, low social welfare standards and the permanent crisis in the Euro zone, taxation is once again at the core of policy debate in our country. For the present, business argues for evidence of the new Tax Code that is already a Уone year oldФ document. The period is probably too short for global conclusions to be drawn. However, some intermediate findings are definitely required at this stageЕ Expert Opinion Tax Code of Ukraine Ч in Violation of Ukraine's International Obligations? Taras H. Koval This month marks the first anniversary of the enactment of the Tax Code by the Ukrainian Parliament. The Code is designed as a single compilation of tax law in Ukraine and it should not be forgotten that tax law in Ukraine is also regulated by international treaties dealing with taxation. Closer analysis shows that a certain number of these treaties may be at odds with provisions of the Tax Code ... Ukrainian Property Transfers between Non-Residents: Ukrainian Tax Implications Dmytro B. Ivanusa When the transfer of Ukrainian property (assets, shares, real estate, etc) by non-residents to other non-residents generally ceased to be something extraordinary from the Ukrainian legal perspective, the respective Ukrainian tax consequences remained uncertain. This was especially so when the selling non-residents are legal entities. Due to these uncertainties, non-residents often prefer to structure their deals outside Ukraine, for instance, at the level of foreign holding companies and, as a result, the Ukrainian state does not obtain taxes it desperately needs to finance its own expenditure... In Re Ukrainian Debt Push-Down Roman P. Blazhko With the deeper integration into the world economy, Ukraine increasingly mimics Western techniques in the sphere of tax planning. УDebt push-downФ is one such technique widely employed by oversees businesses in the area of M&A that is becoming more and more popular in Ukraine. The debt push-down covers the debt finance and is designed to achieve deductibility of interest expenses accrued on a loan attracted for the acquisition of a business... Taxation of Enterprises Katerina A. Nastechko According to Tax Code of Ukraine, legal entities incorporated in line with Ukrainian legislation and provided commercial activity as on the territory of Ukraine as abroad are subject to pay corporate income tax. The tax base for definition of company income tax is net income of enterprise, namely the difference between gross receipt minus gross diversion including amortization... Recent Amendments in Tax Legislation: Time to Revisit Cyprus Ч Ukraine Business Structures Anna M. Zafirova We are now witnessing a real quest for greater transparency both on a national and international level. The media is taking its fair share in this pursuit by regularly publishing or broadcasting success stories of tax authorities which, alone or in collaboration with their foreign colleagues, have cracked down one of the ever-evolving schemes for tax evasion or prevented an attempt to expatriate funds in breach of tax legislation... Hot Issue Pharmaceutical Dishonesty Inna N. Moskalenko One of the most dynamic sectors of the national economy suffers from a predominance of counterfeit goods. The pharmaceuticals business is one of the most profitable segments of the Ukrainian market. Our country is a cherished and rewarding market for foreign manufacturers of medical products, and at the same time it can УboastФ of its own well developed chemical and pharmaceutical industries. In other words, this market is very busy, and it is witnessing tight competitionЕ Argument Marine Transport Development in Ukraine in its 20 Years of Independence Arthur A. Nitsevych, Nikolay V. Melnykov The anniversary celebration, in particular, a state independence anniversary suggests summarizing some results of the stateТs independent life. People working and closely related to the maritime sector, namely lawyers specializing in maritime law cannot stand aside from celebration of such remarkable date as 20 years of UkraineТs declaration as an independent stateЕ Ukrainian Parliament Attempts to Enhance Regulation of Consumer Lending Yulia A. Goptarenko On 16 October a law introducing amendments to a number of Ukrainian laws governing relations between creditors and consumers of financial services became effective. The law is expected to affect the position of both parties to consumer lending Ч banks and their borrowers. One of the main developments of the law relates to the renewal of a ban on extending consumer loans in foreign currency on the territory of UkraineЕ Global Legal Update Party Autonomy vs. Mandatory Rules in International Arbitration Olena S. Perepelynska Needless to say arbitration, based on the agreement of the parties concerned, gives the latter possibility to determine the procedure of resolution of their case. This basic principle of arbitration is known as party autonomy. According to one of the classic books in international arbitration Ч УParty autonomy is the guiding principle in determining the procedure to be followed in an international commercial arbitrationЕ Venue Competition is Getting Stronger Nataliya V. Koloskova The 1st CIS Competition Law Conference , jointly organized by International Bar Association (IBA) and Ukrainian Bar Association (UBA), took place on 8-9 December at President Hotel in Kiev. The conference provided extensive coverage of recent developments in competition law policy and enforcement in Ukraine and other CIS countries, which were highlighted by speakers from Ukraine and foreign jurisdictions. For the first time in the history of the UBA such an event was held on the area of competition law and immediately gathered core leading specialists under one roofЕ Crux Ukrainian Tax Code: Application Story Mykola Stetsenko The introduction of the Tax Code significantly influenced the practice of corporate restructurings involving legal entities registered abroad. In particular, five below novels of the Tax Code seem the most relevant in this respectЕ Kateryna Voznesenska Tax incentives are defined as exceptions to the general tax rules and intended to reduce the tax burden of taxpayers. According to international practice tax incentives include, inter alia, loss carry forwards for corporate profit tax (the CPT) purposesЕ Tatyana Kuzmenko Fairly speaking, in 2011 business did not much succeed in developing effective structures with regard to tax optimization of transactions with payers of the single tax. The straightforward wording of Sub-clause 139.1.12 of Clause 139.1 of Article 139 of the Tax Code does not offer any chance for maneuver with respect to increasing the deductible expenses associated with purchases of goods (works, services) from individual entrepreneurs who have the status of single-tax payersЕ Vadim Tugay Recently, the number of criminal cases related to crimes in the area of taxation has been really growing. However, it can hardly be explained by the desire of law-enforcement agencies to eradicate crime. Actually, it relates to more mundane reasonsЕ HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS SPONSORSHIP & ADVERTISING GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ADVERTISE GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT BANNER EXCHANGE Copyright © 2003-2010 by Yuridicheskaya Practika Publishing. All rights reserved.