The Ukraine State Fiscal Service (SFS) has issued guidance letter 556/6/99-99-15-02-02-15/IPK, which clarifies withholding tax requirement where dividends are paid to a non-resident in a foreign currency. The letter includes that in determining the amount of tax to be withheld, the foreign currency dividend amount must be converted to Ukrainian hryvnia based on the official exchange rate of the National Bank of Ukraine on the date the dividend is paid.
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