Law on 2% Single Tax Cancelation, State Register of Sanctions, eExcise, changes to LLC Model Charter

President Signed the Law on 2% Single Tax Cancelation

On 26.07.2023, the President of Ukraine signed the Law “On Amendments to the Tax Code of Ukraine and other laws of Ukraine regarding the peculiarities of taxation during martial law” (draft law No 8401).

Currently, the official publication of the Law is expected, after which it will enter into force on 01.08.2023.

Let us please remind you that in addition to the cancelation of the 2% single tax, the Law also restores the application of fines for violations of tax legislation, the payment of single social contribution, transactions with the registrars of settlement operations.

More details about the main innovations of the adopted Law can be found in our previous news issue by the link.

President Signed the Law on Sanctions’ Register Creation

On 26.07.2023, the President of Ukraine signed the Law of Ukraine (draft law No. 8392), which provides, inter alia, for the creation of the State Register of Sanctions.

Let us please remind you that the creation of the Register is planned for the purpose of providing free public access to up-to-date and reliable information about all subjects against whom personal sanctions have been applied in accordance with the Law of Ukraine “On Sanctions”.

Law on Electronic Excise Stamp Introduction Entered into Force

On 27.07.2023, the Law of Ukraine No 3173-IX entered into force, providing for the introduction of the electronic excise stamp and the digital traceability system “eExcise”, which will come into force in Ukraine from January 2026.
Let us please remind you that the implementation of the eExcise electronic system using Track & Trace technology will allow tracking the route of all tobacco and alcohol products, as well as allow consumers to verify that purchased products are not counterfeit.

Changes to LLC Model Charter are in Effect

On 27.07.2023, Resolution No 367 of the Cabinet of Ministers of Ukraine entered into force, amending clauses 32, 37 and 40 of the Model Charter of a limited liability company.

Thus, the new version of clause 32 limits the competence of the general meeting: from now on, the general meeting of participants can resolve any issues of the company’s activities, except for issues assigned to the exclusive competence of other bodies of the company.

Clause 37 is supplemented with the condition that in the event of the death of the director of the company, as well as in the case of his being recognized as missing under special circumstances, his deputy becomes the executive until another person is elected.

Also, in clause 40, the procedure for determining the value of the transaction is clarified. According to the new version of such norm, the value will not be determined as of the end of the previous quarter, but in accordance with the last approved financial statements.

Let us please note that the mentioned changes were adopted with the aim of bringing the Model Charter into compliance with the Law of Ukraine “On Limited and Additional Liability Companies”.

If you doubt whether your charter complies with the latest changes in legislation, the SDM team will be happy to help. Please, contact:

Dr. Dmytro Syrota
the managing partner of SDM Partners Law Firm
d.syrota@sdm.partners
+38 (050) 330 1644

Andrii Poleshko
the associate of SDM Partners Law Firm
a.poleshko@sdm.partners
+38 (095) 151 2402