Companies@UA: База компаний Украины

Kyiv, July 27 (Interfax-Ukraine) – The Ukrainian government has proposed that the duty on state obligatory pension insurance applicable to non-cash foreign exchange operations, which was introduced by Ukraine's law on state mandatory pension insurance, should be cancelled.

As the Ukrainian parliament's official Web site reported, a bill drafted by the government on amendments to the law on state mandatory pension insurance was registered in parliament on July 23, 2009.

"Taking into consideration the need to create conditions for boosting and developing investment activity, removing the obstacles to investment, that duty needs to be cancelled," reads the explanatory note to the bill.

The bill foresees that the duty should be lifted from the sale and purchase of non-cash foreign currency for the hryvnia as of January 1, 2010.

The duty applicable both to legal entities and individuals was introduced temporarily in 1998 by the law on amendments to Ukraine's law on state mandatory pension insurance duty dated October 22, 1998, and its goal was to repay delayed pensions.

As reported earlier, under the law on the national budget for 2009, the state mandatory pension insurance duty on non-cash forex operations was reduced to 0.2% from 0.5% in 2008.