Ukraine Increases Fixed Asset Value Threshold for Depreciation Purposes

As part of Law No. 466-IX, which was published on 22 May 2020, Ukraine has increased the value threshold for assets to be considered fixed assets for depreciation purposes from UAH 6,000 to UAH 20,000. With the change, when an asset is acquired for use in economic activity, it is generally considered a fixed asset subject to depreciation if its value exceeds UAH 20,000. If the value of an asset does not exceed UAH 20,000 it may generally be written off in the year of acquisition.