Without fulfilling legal and tax compliance activities, companies can be declared inactive. During their inactivity, taxpayers lose certain deduction rights, this loss of rights extending to their business partners too.
Nowadays, the majority of separate subdivisions of non-residents are working in the IT sector, in Ukraine. For such organizations the operations related to accounting and taxation of royalty payments are routine.
Fast economic growth and changes in legal and tax environment lead to significant increase in the interest of doing business in Poland among foreign entrepreneurs. According to Polish Freedom of Economic Activity Act the undertaking, pursuit and termination of economic activity shall be free to all on an equal-rights basis. Nevertheless there are some exceptions defined by the Act. Foreign persons from the European Union Member States and Member States of the European Free Trade Association (EFTA) may undertake and conduct economic activity on the same rules as Polish citizens.
As follows from recent verdicts of Polish courts regarding cash-pooling agreements, compensation of short-term surpluses shown by entities with shortages reported by other entities from the same group is treated as a loan. As a consequence of this approach, where certain thresholds defined by income tax regulations are exceeded, related parties will be obligated to prepare transfer pricing documentation for these transactions.
National Bank of Ukraine will inform the public on a permanent basis about: legalization (laundering) of proceeds from crime, violations related to the implementation of risk activity that threatens the interests of depositors or other creditors of the bank.
According to the Ordinance published on the 29th of August 2016, companies will be required to prepare and to submit in electronic form a statement regarding the receivables /payables older than 30 days as of the invoice date or due date, if the due date is expressly mentioned in relation with other Romanian companies.
The norm in world practice is to provide services in form of "outsourcing" and "out staffing." In Ukraine, these services are not so common so their legal regulation at present is inadequate and imperfect.