Archive for December 8th, 2012

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Securities and derivatives law changes – Ukraine

December 8, 2012

Whilst all headlines will be on the action of the last RADA session passing the 2013 budget, 234 MPs also supported Law 11285 which relates to securities and derivatives – something that won’t make the headlines.

Law 11285 introduces a specific tax on transactions with securities and derivatives, a 0% rate on stock exchange transactions, 0.1% rate for off-stock exchange transactions with securities on the stock exchange lists, and a 3% tax rate on off exchange market transactions.

Further it reduced the tax on profits from these transactions from 20% to 10%.

Why is this significant?  Well it should encourage those Ukrainians who can, to buy Ukrainian debt rather than relying entirely on the international markets to do so.

Anybody wanting a good and reliable securities trader based at a bank in Odessa let me know as I just happen to be friends with a lady who is the Department Chief of Securities Trading at a certain bank here.

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