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Ukraine

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In brief On 3 June 2021, the Parliament of Ukraine adopted the Law of Ukraine “On Amendments to the Tax Code of Ukraine on Repealing Taxation of Income Received by Non-Residents in the Form of Payment for Production and/or Distribution of Advertising and Improvement of the Procedure for Value Added Taxation of Supply of Electronic Services to Individuals by Non-Residents” (“Law”). Key takeaways The Law introduces 20% VAT on electronically supplied services (“ESS”) provided by…

On 8 June 2021, the Swiss Agency for Therapeutic Products issued a press release announcing the results of Operation PANGEA XIV. The release said in part: Authorities worldwide have been checking for criminal online sales of medicines in a coordinated operation: The week from 18 to 25 May saw a coordinated worldwide campaign against the illegal online trade in medicines. For years, this market has been dominated by erectile stimulants. Some 90% of the shipments…

The European Parliament has adopted a non-binding resolution in the event of Russian troops entering Ukraine. The resolution proposes that imports of oil and gas from Russia to the EU be immediately stopped, that Russia should be excluded from the SWIFT payment system (used for international bank transfers) and that assets in the EU of oligarchs close to the Russian authorities and their families should be frozen in the event of Russian troops entry into…

On 13 April 2021, a new import ban will come into effect on 24 new categories of products originating from the Russian Federation. The Cabinet of Ministers of Ukraine adopted a resolution amending the list of products prohibited for import into Ukraine from the Russian Federation, which was previously approved by its Resolution No. 1147 dated 30 December 2015 “On Banning the Import of Products Originating in the Russian Federation into the Customs Territory of…

On 23 March 2021, the president of Ukraine enacted Presidential Decree No. 109/2021 dated 23 March 2021 “On the Decision of the National Security and Defense Council of Ukraine dated 23 March 2021 On Imposition, Cancellation and Amendment of Personal Special Economic and Other Restrictive Measures (Sanctions),” effective from 25 March 2021 (“Sanctions Decision”) imposing personal special economic and other restrictive measures (sanctions) against almost 80 Russian companies, 23 Russian individuals and three Members of…

In an 18 March 2021 statement released by the German Foreign Ministry, the Group of Seven (G7) nations have announced that they remain fully committed to the implementation of sanctions on Russia over the annexation of the Crimean Peninsula. The group’s Foreign Ministers also reaffirmed their unwavering support for and commitment to the independence, sovereignty and territorial integrity of Ukraine, and denounced

On 12 March 2021, the Official Journal published Commission Implementing Regulation (EU) 2021/442 of 11 March 2021 making the exportation of certain products subject to the production of an export authorisation, which requires an export authorisation to export (or re-export after such goods have been subject to manufacturing operations including filling and packaging within the customs territory of the Union) vaccines against SARS-related coronaviruses (SARS-CoV species) currently falling under CN code 3002 20 10, irrespective of their packaging…

On 19 February 2021, Ukraine imposed via Presidential Decree No. 64/2021 dated 19 February 2021 “On the Decision of the National Security and Defense Council “On Imposition and Amendment of Personal Special Economic and other Restrictive Measures (Sanctions)” (the “Sanctions Decision”) personal sanctions against a number of companies and individuals doing business in the Crimea and on the occupied territories of Donetsk and Luhansk regions (“Temporary Occupied Territories”) and suspected of terrorism financing, as well…

Between 28 January and 2 February 2021, the president of Ukraine enacted three decisions of the National Security and Defense Council of Ukraine: Presidential Decree No. 29/2021 dated 28 January 2021 “On the Decision of the National Security and Defense Council of Ukraine dated 28 January 2021 “On Amending the Decision of the National Security and Defense Council of Ukraine dated 14 December 2020 enacted by Presidential Decree No. 564-27т dated 14 December 2020,”” effective from…

In response to opening the consulate of the Republic of Nicaragua in the temporarily occupied Crimea, on 2 February 2021 the Parliament of Ukraine for the first time in its history approved sectoral sanctions against the Republic of Nicaragua (“Sectoral Sanctions”). The Sectoral Sanctions are effective for a period of five years and include, in particular, the following restrictions: prohibition of export to and import from Nicaragua of coffee, tea, mate tea, spices, fruits, nuts,…