On May 26, KPMG’s Tax & Legal Department jointly with the American Chamber of Commerce in Ukraine held a Knowledge seminar on "Ukrainian Tax and Legal Update: What’s New in Taxation, Currency Control and Investment Regulation?". Rob Shantz, Sergey Popov (both Tax Partners), Tatiana Zamorska, and Oleg Chayka (both Directors at the T&L Group) provided practical and up-to-date overview of the status of the proposed new tax legislation and State Budget Law 2010; Corporate Profits Tax Update (tax losses, loan loss provisioning for Ukrainian banks, other issues); VAT update (VAT bonds/ VAT refunds), Excise Duty, proposed increases in Advertising, Water, Land, and other taxes; Personal Income Tax Update /Expatriate Issues; foreign investments registration; and loans from non-residents: registration, amendments, early repayment.

Over 50 representatives of various industries and consulting companies visited the event and participated in productive discussions that followed each of the presentations. The seminar was followed by networking and socializing at a light reception.