Cross-border trade is, in tandem with Foreign Direct Investment, basically the key pillar of a country’s economic growth. Its role in a state’s economic policy is pivotal, if not enabling.
No wonder that all the steps being taken towards facilitating trade are sensitive inside the country as well as beyond its borders. And the situation at the end of 2013 around EU-Ukraine Association Agreement is a perfect example of this statement...
A great deal of attention has been paid recently to transfer pricing, since it is through pricing mechanisms that multinational companies withdraw their profits from taxation. Even by the most conservative estimates, the sum lost taxes in the world amount to hundreds of billions dollars per annum.
In 2013, at the request of the G20 countries, the BEPS Action Plan (Base Erosion and Profit Shifting) was adopted, which is described by many experts as the most fundamental changes in international tax rules...
Stanislav S. Lobko
Ukrainian currency legislation has neven been known to have a liberal stance: surrender of export earnings, repatriation funds, ad hoc licensing of foreign investments and so on are not commonly accepted worldwide as a measures of sound monetary policy. Yet, at the very start of the worst Ukrainian crisis the National Bank of Ukraine (the NBU) imposed far more restrictions facing the outflow of capital abroad and the extreme devaluation of national currency. In this article we will analyse most of them and outline the best practice of how business tries to get through...
Oleg O. Milchenko, Andriy V. Selyutin
The problem behind trade with Crimea has been causing inconveniences for Ukrainian business for more than one year and it is far from being resolved (or at least from a resolution acceptable for business). Setting aside all the political disputes around the Crimean conflict, it should be admitted that Ukrainian business does not want to lose its trading relations with Crimea, notwithstanding the status of the peninsula. However, the legal reality is not friendly for business initiatives on the part of Ukrainian merchants in Crimea...
Viktoriia Y. Fomenko
It is well known that in recent years the importation of drugs and medical devices has been quite a big issue, whereas the importation of unregistered drugs (e.g., drugs used for clinical trials) is among the hottest topics. The main concerns relating to the importation of drugs are (1) the application of a 7% VAT rate instead of 20% on the import of unregistered drugs; (2) questionable cases of application of the 7% VAT rate on imported drugs and medical devices. We will look into these issues in more detail...
Dr. Viktor V. Dovhan
In December 2013 WTO members concluded negotiations on a Trade Facilitation Agreement (hereinafter — TFA) at the Bali Ministerial Conference, as part of the wider “Bali Package”. Since then, WTO members have undertaken a legal review of the text. In line with the decision adopted in Bali, WTO members adopted a Protocol of Amendment on 27 November 2014 to insert the new Agreement into Annex 1A of the WTO Agreement. The TFA will come into force once two-thirds of WTO members have completed their domestic ratification process1...
EPAP Ukraine advised Nokia
Avellum Partners advised Mohawk Industries, Inc
Acquisition by Actavis of Allergan company
Sytnyk & Partners advised Robert Bosch GmbH
DLA Piper advised shareholders of Pharma Start
Avellum Partners advised Bayer AG
Oleksandr Yanukovych filed suit against Ukraine
Linkedin to pay USD 13 million for mail-out
Court blocked accounts of 14 offshore companies belonging to Serhiy Kurchenko
The EU equated Bitcoin to traditional currencies
Portnov vs. the EU Council
Bankruptcy
Private contractors
Amendments to the Criminal Procedure Code
Enforcement proceedings
Alternative fuels
E-Commerce
Draft Act on Financial Restructuring
IV UBA Judicial Forum
Applications for prior merger clearance changed
The State Aviation Service was given binding recommendations
Suppliers of optical disc drives fined for cartel
Ingenico Group and Intel to speed up deployment of securely connected devices
Naftogaz signed credit agreement with the EBRD for USD 300 million
Ban on use and circulation of virtual currency/cryptocurrency
Anna À. Denisova, Oleksandra R. Novikova
The number of formalities for cargo vessels in Ukrainian ports has been reduced from 8 September 2015 by the coming into force of Resolution No.491 of Cabinet of Ministers of Ukraine of 7 July 2015. As a result, the average time spent in port by a vessel is going to be cut, while port throughput will be increased, as the Ukrainian Ministry of Infrastructure claims, by 15-20%. The aim to prevent and/or counteract possible corruption acts, conducted by Ukrainian regulatory authorities’ officials and other individuals, during a ship inspection, may well be achieved. Apart from practical effects, this Resolution also approximates Ukrainian legislation to European standards, which corresponds to the national policy of European integration...
International disputes in the agrarian sector have always developed as a separate legal service segment. The international rules and institutions governing this area enjoy an incredible level of credibility and enforcement. Recent political changes affect agrarians and the nature of disputes that are unusual for Ukraine. Disputants expect and demand more from their legal advisors, especially when it comes to unsuspected difficulties and consequent losses. The UJBL tackles the recent state of play with arbitration challenges with AGA Partners, a bright Ukrainian team focused on sectoral legal assistance. What does the firm face in its client workflow, and how does it respond? We asked three partners: Aminat Suleymanova, Ivan Kasynyuk and Irina Moroz. This is what they told us...
Around 6,000 representatives of the legal profession from across the globe converged on Vienna for the IBA Annual Conference on 4-9 October.
The legal week was unveiled at the opening ceremony by David W. Rivkin, President of the IBA, who gave a warm welcome to delegates. “The highest standards of the law and our ability to cause meaningful change are also the driving force behind my Presidential initiatives. The IBA is making a lasting contribution to civil society on a large scale by using the remarkable expertise available to us,” Mr. Rivkin stressed...
On 13 October 2015 Yuridicheskaya Practika Publishing held the III In-House Counsel Forum. The event brought together practising lawyers and partners of Ukrainian firms, heads of legal departments of leading Ukrainian companies, representatives of public authorities and courts. This year the sessions covered a wide spectrum of issues, like management of legal department, court practice, compliance, tax and banking matters...
The last few months have seen new legislative changes and developments in various dimensions of business regulations. In this section the UJBL editorial team has enlisted the help of experts to comment upon some of them. Our latest digest includes, to a greater extent, initiatives that touch upon tax reform, e-commerce, transfer pricing, preventing corruption, intellectual property and not only.
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