Ukraine simplified the export of services

Ukraine simplified the export of services

On December 02, 2016 the Law of Ukraine “On Entering Amendments to Certain Legislative Acts of Ukraine (related to removal of administrative barriers for export of services)” No. 1724-VIII as of 03.11.2016 was published in the Golos Ukrainy  newspaper No. 230. The Law will enter into force in one month. It cancels mandatory requirement to conclude agreements in paper form while exporting services.

So, starting from January 03, 2017 the Ukrainian companies and freelancers that export their services have a right to conclude agreements with foreign clients through exchanging e-mails, accepting public offer related to agreement or through issuing invoice in electronic format. At the same time such procedure for concluding agreements does not cover cases related to export of transport services.

Among other amendments, it is necessary to emphasize the following ones:

• the currency control in transactions related to export of services (except transport ones) as well as intellectual property rights was cancelled;
• banks are unable to demand the translation into Ukrainian documents drafted in English or any other foreign languages with simultaneous duplication thereof in Ukrainian (English);
• documents in electronic format are recognized as primary documents and can be used in accounting;
• invoice is recognized as a primary accounting document that is sufficient to prove that business transaction has been performed.

NEWS OF ANTIKA LAW FIRM

Antika Law Firm is among 30 best law firms in the Top 50 Law Firms of Ukraine 2016

According to the results of the annual research Top 50 Law Firms of Ukraine 2016 conducted by the Yuridicheskaya Practika Publishing Antika Law Firm entered into the list of 30 best law firms.

In addition, according to the ranking of practices the firm entered into Top 5 leading firms of the market in antitrust and energy.

The partners of the firm were recognized among other leaders of the market in different legal practices: managing partner of the firm Alexey Kot was recognized in antitrust, energy and natural resources practices, partner of the firm Andrey Kuznetsov – in the in the field of litigation and partner Alexander Burtovoy – in the field of energy and natural resources.

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This Legal Alert is intended as a general overview of latest changes in legislation of Ukraine and does not constitute a legal advice.

For further information please contact Antika Law Firm:

12, Khreschatyk Str., 2nd floor,

Kyiv, 01001, Ukraine

tel./fax: +38 044 390 09 20/21

office@antikalaw.com.ua