On March 18, 2020, President Zelensky signed a package of laws regarding support of taxpayers and individuals during national quarantine (Laws No. 3220, 3219, 2538, 2539). What tax-related novelties do these laws introduce for business? See below the summary from INTEGRITES Tax and Customs team.

Sayenko Kharenko has advised OH Holding Limited on the sale of a 51% stake in the Luxoptica Group and the creation of a joint venture with Essilor Nederland Holding B.V.

Former Counsel Yulia Atamanova, who leads the LCF Law Group's International Arbitration, Commercial, and Corporate Disputes practices,. has been promoted to Partner at the firm.

Eterna Law has successfully helped PZU Zycie complete an insurance case investigation.

Contributed by Avellum

Redcliffe Partners and Clifford Chance Contribute to Global Pro Bono Project on Human Right to Healthy Environment

Redcliffe Partners, Clifford Chance, and over 100 law firms around the world have participated in a global mapping survey for the United Nations Special Rapporteur for Human Rights and the Environment related to the existence (or non-existence) of a fundamental human right to a healthy environment.

Starting from October 21, 2019 a new bankruptcy code entered into force in Ukraine substituting the law that had been in effect since 1992 (the «Law»). New legislation is aimed at making the procedure more efficient and expedient, as well as at granting the creditors more control over the insolvency process.

On February 1, 2020, the new Law on Lease of State-Owned and Municipal Property (the “Law”) came into force. The Law substitutes the old one that has been in use since 1992 and launches a fundamentally new mechanism for the lease of state/municipal property which aim to:

Sayenko Kharenko Advises Promprylad.Renovation on Purchase of Facilities

Sayenko Kharenko has advised Promprylad.Renovation, a project within the premises of Promprylad, a revitalized Soviet-era plant in Ivano-Frankivsk, on its buying-out of plant facilities.

Draft Law 1210 – Significant Changes to Taxation of Cross-Border Operations

On 16 January 2020, the Ukrainian Parliament adopted law No 1210 "On amendments to the Tax Code related to the improvement of tax administration and elimination of technical and logical inconsistencies in the tax legislation" (the "Law").

Avellum and DLA Piper Advise on Vodafone Acquisition and Financing

Avellum has advised arrangers J.P. Morgan Securities Plc and Raiffeisen Bank International AG on a USD 464 million bridge loan financing for Bakcell’s acquisition of PSJC Vodafone Ukraine. DLA Piper advised Bakcell on the deal.

Cai & Lenard Advises Ukrainian Teenage Dance Group

Cai & Lenard is advising Ukrainian teenage dance troupe Light Balance Kids, on the next phase of what the firm calls its “creative development."

Eterna Law Advises on Restructuring of Ukrainian Subsidiary of AIG

Eterna Law has advised the Ukrainian subsidiary of AIG on its restructuring.

The new Law of Ukraine “On Concession” (the “2019 Concession Law”) became effective on October 19, 2019, following several years of discussion. As the previous concession law (which was adopted in 1999) provided outdated and unenforceable regulations and was inconsistent with other laws regulating concessions and public-private partnerships in Ukraine, no significant concession projects had been developed in Ukraine for more than 20 years. The 2019 Concession Law provides a chance for Ukraine to overcome legal barriers to the development of concession projects and attract much needed investment into the country’s infrastructure.

On 31 January 2020, the Resolution of the Cabinet of Ministers of Ukraine (“CMU”) “On Implementation of Competitive Conditions of Stimulating the Production of Electric Power from Alternative Energy Sources”, dated 27.12.2019, No. 1175 (“Resolution”), came into force. The Resolution has adopted, inter alia, the procedure on holding the support quota distribution auctions (“Procedure”).

Vasil Kisil and Partners has successfully represented Rost Agro, the Ukrainian-based seed producer and exporter, in an administrative appeal procedure with the State Tax Service of Ukraine.

Everlegal has successfully represented Turkish airline Onur Air in a claim to recover USD 43 million.

Redcliffe Partners has advised the EBRD on a risk participation agreement with Piraeus Bank Ukraine with a total value of EUR 10 million.