Author: Сергей Панов

Property tax reform for UK

Published: Sergey Panov | 29/02/2016 | news

The International Monetary Fund said, that the United Kingdom should make changes to its medium-term fiscal consolidation strategy. Reducing of tax expenses could improve the tax regime's efficiency, increase tax neutrality and to free up revenues, the IMF has said in its 2015 Article IV report. The report also said that further property tax reform could decrease the shortage of housing. It recommended easing the tax burden on real estate transactions and increase the fees that are based on the property value.Also recommended to reduce tax rebates on the property of a single occupier. The IMF said that the reduction of the bias of tax code toward debt could contribute financial stability. Author: Olena Kutova senior lawyer of the Finance Business Service company ...

Dividends paid to non-residents of Ukraine

Published: Sergey Panov | 09/10/2013 | news

In this article, we propose to consider the main issues related to the payment of dividends to non-residents of Ukraine, that is, the individuals / juridical persons who are representatives of other states. First of all, it should be noted that Ukrainian law provides the right of foreign investors to ensure they receive all the profits obtained in our country legally. This immediately indicates that the resident of Ukraine, being the actual issuer of corporate rights, who carries out the payment of dividends to non-residents, is subject to the general legislation on taxation. That means that regardless of the fact to whom the payment of dividends is made, the issuer is obliged to pay an advance fee of 25% without reducing the amount of dividends. International agreements related to the elimination or reduction of double taxation of income does not apply to this payment. Now let's discuss in more details the payment of dividends to legal entities which are non-residents of Ukraine. First of all, we emphasize that when paying dividends to non-resident, who is in fact a legal entity, but has no such status, the issuer of corporate rights is obliged to withdraw...