According to Avellum Partner Maksym Maksymenko, the key developments in the country’s economy revolve around infrastructure projects, agricultural land regime liberalization, and large-scale privatization of certain state-owned companies. Maksymenko also reports several updates in legislation, primarily in the areas of zoning and city planning, and capital markets.
CMS Advises ING on USD 100 Million Loan to Nibulon
CMS has advised the ING Bank N.V. on its provision of a USD 100 million three-year syndicated loan to Nibulon SA.
Andriy Nikiforov Joins Redcliffe Partners as Partner
Former Kinstellar Kyiv Counsel Andriy Nikiforov has joined Redcliffe Partners’ Banking & Finance practice as a Partner. He will lead the firm’s cross-practice Technology, Media, and Telecommunications industry group.
Golaw Successful for TIU Canada in Solar Power Plant Dispute
Golaw has successfully defended the interests of Canadian investor TIU Canada over a solar power plant disconnection.
Iurii Sukhov Joins Arzinger as Partner
Iurii Sukhov has joined Arzinger as a Partner and will lead the firm’s White Collar Crime practice together with Kateryna Gupalo and Oleksander Plotnikov.
Sayenko Kharenko, Gladei & Partners, Turcan Cazac, and Baker McKenzie Advise on USD 50 Million Eurobond Tap Issue by Trans-Oil Group
Sayenko Kharenko and Turcan Cazac advised joint bookrunners Citigroup, ING, and Renaissance Capital on the tap issue of USD 50 million 8.45% secured notes due 2026 by Trans-Oil Group. Baker McKenzie and Gladei & Partners advised Trans-Oil Group.
Sayenko Kharenko Advises EBRD on Loan to Ukrgasbank
Sayenko Kharenko has acted as Ukrainian legal counsel to the EBRD on its provision of a Hryvnia currency loan equivalent to EUR 25 million to Ukrgasbank.
Ukraine: Lawful Options for Promoting Rx Pharmaceuticals in the Ukrainian Market
The fundamental goal of each company is to increase sales. For this purpose, players that operate in the Ukrainian pharma market utilize a wide range of promotional activities. However, Ukrainian laws on health protection allow very few of them when it comes to prescription (or “Rx”) pharmaceuticals.
The Buzz in Ukraine: An Interview with Anastasiya Bolkhovitinova of Kinstellar
Despite the recent escalation of the conflict in Eastern Ukraine and its negative impact on business in the country, Anastasiya Bolkhovitinova, Counsel at Kinstellar, says that telecommunications and IT have been on the rise, and significant legal changes were introduced on tech incentives, foreign direct investment, capital markets, and agricultural land.
Ukraine to Introduce New Tax Framework for Gaming
On 15 July 2021, the Ukrainian Parliament adopted at its first reading the draft law introducing the new tax framework for the gaming industry (No. 2713-д). This is one of the key steps towards the full-fledged relaunch of Ukraine’s gaming market following its ban in 2009.
Ukraine Introduces Tax Amnesty
On 21 July 2021, Law of Ukraine “On Amendments to Tax Code of Ukraine and Other Laws of Ukraine on Stimulating De-Shadowing of Income and Improving Tax Culture of Citizens by Introducing One-Time (Special) Voluntary Disclosure by Individuals of Their Assets and Payment to Budget of One-Time Duty” No. 1539-IX, dated 15 June 2021 (“Tax Amnesty Law”), entered into force.
ICC International Court of Arbitration Appoints Malgorzata Surdek-Janicka as Vice-President
CMS' Malgorzata Surdek-Janicka has been appointed as Vice-President of the International Court of Arbitration at the International Chamber of Commerce in Paris. Aside from Surdek-Janicka, 33 lawyers from CEE were appointed as members and alternate members of the court.
CMS Kyiv Advises Stakelogic on B2B Supplier License in Ukraine
CMS Kyiv has helped Stakelogic obtain a B2B supplier license from the Commission for the Regulation of Gambling and Lotteries in Ukraine.
LCF Advises Scatec Solar on New Solar Power Plant
LCF Law Group has advised Scatec Solar on the launch of a 148-megawatt solar power plant located in the Mykolaiv region.
Agricultural Land Market is Opening up in Ukraine
For several decades, it was prohibited in Ukraine to alienate, or change the designated use of, certain types of the privately owned agricultural land plots used for the farming and commercial agricultural production, which impaired the rights of private landowners and affected the efficiency, liquidity and transparency of the market.
Vasil Kisil & Partners and EY Law Advise on Horizon Capital's Investment in Avrora Group
Vasil Kisil & Partners has advised the Avrora Group on the sale of a minority shareholding to Horizon Capital private equity fund. EY Law advised Horizon Capital on the deal.
Ukraine Imposes VAT on Digital Services Supplied by Non-Residents
On 2 July 2021, Law of Ukraine “On Amending the Tax Code of Ukraine on Abolition of Taxation of Income Received by Non-Residents in the Form of Payment for Production and/or Distribution of Advertisements and Improvement of Value-Added Taxation of Transactions Involving the Supply of Electronic Services by Non-Residents to Individuals” No. 1525-ІХ (the “Law”) entered into force. The Law introduces VAT on digital services supplied by non-residents to Ukrainian individual customers and abolishes 20% withholding tax on advertising services.
New Rules of UBO Disclosure in Ukraine
The Government of Ukraine has recently implemented additional measures to prevent and counteract the legalization (laundering) of proceeds of crime, terrorist financing and financing of proliferation of weapons of mass destruction. Thus, Ukraine made one more step towards implementing 4th Money Laundering EU Directive.