STS Starts International Tax CRS Exchange Soon, IP Protection Fees on 16 Sept 

STS Starts First Tax International CRS Exchange Soon

According to information from the Ministry of Finance, the development of software that will allow the STS to carry out international automatic exchange of information according to the Common Reporting Standard (CRS) and the Country-by-Country Reporting (CbCR) with more than 100 foreign tax administrations has been completed.

The first such exchange of information will be carried out in 2024 for the second half of 2023 (the first reporting period). In the future, the previous calendar year will be considered as reporting period.

Joining Ukraine in the international system of automatic exchange of information will contribute to the creation of a more transparent tax environment and increase the vision of Ukraine as a reliable and equal partner in international informational tax relations.

In addition, the introduction of international automatic exchange of information for tax purposes is an important achievement for Ukraine as a candidate country for joining the EU on the path of harmonization of national legislation with EU legislation.

Let us please remind you that the Law of Ukraine No 2970-IX on the introduction of international automatic exchange of information on financial accounts in Ukraine was adopted back in March 2023.

Changes to Paying Fees for Protection of IP Procedure Enter into Force on 16 Sept

We already posted about the fact that the Cabinet of Ministers of Ukraine amended the Procedure for paying fees for actions related to the protection of rights to intellectual property objects.

The relevant Resolution of the Cabinet of Ministers No. 859 dated 15.08.2023 will enter into force on 16.09.2023.

Let us please remind you that by mentioned changes:

  • new fees are defined and current fees are clarified. For example, new types of fees are included, such as for the opportunity for third parties to object to applications for inventions, to cancel patents in an administrative procedure, for the opportunity to obtain a certificate of additional protection of inventions, for conducting information searches, for the opportunity for applicants and rights holders to restore their rights;
  • tax exemptions for non-profit institutions and organizations have been increased;
  • the terminology of the Procedure has been brought into compliance with special laws in the field of IP.