Since the beginning of March the National Bank of Ukraine extended previous restrictions on currency transactions imposed last year and introduced some new ones aiming to stabilize hryvna and currency market. These restrictions shall be valid for the following three months till June 3, 2015.
Banks, IT companies and those from the oil & gas industry benefited the most from the 5% reduction of the social security contribution (CAS) owed by the employer. At the opposite end, in the case of small companies, since the increase in minimum wage starting with January 1, 2015 they had increases in salary costs, so the measure of reducing the CAS was practically annulled.
Although employers are legally required to provide training to employees, these provisions are not always applied in practice, either because the employers don’t realise the importance of employee development or because they are not willing to bear the costs of such trainings.
The Slovak Labour Code and the Act on Employment Services impose an obligation for employers to employ persons with disabilities. In case you have employed persons with disabilities or fulfilled this obligation by placing an order, for purpose of obligation fulfillment you are obliged to inform the Headquarter of Employment, Social Affairs and Family of the SR about the fact till 31.3.2015.
Since the beginning of 2015, Minimum Wage Act came into force in Germany, which also binds to Slovak employees working – even only temporarily - in Germany. The minimum wage of EUR8.50 is bound not only to employees who are sent to work in Germany, but also to the employees who carry out only part of their work in Germany, or even merely passing through Germany, i.e. even in the truck and passenger traffic.
The government of Ukraine amended the procedure for providing work permits to foreigners and stateless persons. From now on the timeline to issue, extend or terminate work permit is much shorter, there are more reasons when employment of foreigners and stateless persons is desirable and reasonably sufficient; the permit can be extended unlimited number of times and its prolongation does not require additional costs.
We would like to draw your attention to the legal obligation of statutory bodies to prepare Report on relations between the controlling and controlled entity for the year 2014. This year the companies for first time drawn up the Report on relations according to the provisions of Act on Business Corporations, which tightened the rules for the preparation and places greater demands on its scope.
Amendment to the Act on Electronic Cash Register (ECR), that became effective as of 1.1.2015, introduced so-called virtual cash registers. Their usage will be free of charge and will be possible as of April 1st 2015. In case you are interested in usage of virtual cash register you can apply for the allocation of credentials as of March 2nd 2015.
In 2015 the Employment Law of Ukraine underwent the changes. Now the employees in Ukraine will be hired under new rules; the employment order turns to be mandatory, employer’s liability has been increased and fines for violation of labor legislation became higher.