Ukraine Adopts Law Amending Rules Concerning Corporate Tax, VAT and Certain Other Taxes

On 31 July 2014, the Ukrainian parliament considered and adopted Draft Law No. 4309A. The law includes several changes to Ukraine's tax legislation which are generally applicable from 1 August 2014. The following summarizes the key changes.

Corporate Income Tax

• The corporate income tax exemption for hotels and energy enterprises that produce electric energy exclusively from renewable energy sources is revoked
• The reduced income tax rate of 10% for income received from securities and deriv…