17.09.2007

Comments to the Regulation of Zhytomyr Economic Court of Appeal (bankruptcy case)

Under the para 8 of the Art. 7 of the Law On resumption of debtor’s solvency or admitting bankruptcy, the following documents should be added to the application, in particular: resolution of the court, that of the economic court, which considered creditor’s demands against the debtor; copy of unsettled charge document, on the basis of which debtor’s funds to be written off including debtor’s banking establishment confirmation of accepting this document for execution noting the date of acceptance, documents on execution (writ of execution, notary executive notes, etc.) or other documents certifying admittance of creditor’s demands by the debtor.

Source: "Правовий тиждень" 11.09.2007 №37

28.08.2007

Basic Regulations on Insider Information

Practically all Ukrainian business is based on the principle when one group of people finds out something faster than others and successfully applies the data for its own benefits. This information enables them to look about in trade and accurately increase their capital. At the same time, other participants of stock market making their minds and considering over the change in price. So it is obvious that one cannot keep pace with the player possessing “definite” information. In order to make possibilities equal for all the stock market “players”, legislation of Ukraine in relation to securities envisages criminal liability for using insider information before the moment of disclosing it.

Source: "Правовий тиждень" 28.08.2007 №35

16.08.2007

Practice of Using Reductive System of Taxation, Stock-Taking, and Accounting for Small-Scale Enterprises of the State And Municipal Form of Property

Timely introducing reductive taxation system as a way of reducing tax pressure, positively influenced upon development of entrepreneurial activity in our country. Though since the issuance of President’s Decree On reductive system of taxation, stock-taking, and accounting for small-scale enterprises as of 03.07.1998 by No. 727/98 (hereinafter referred to as President’s Decree), correspondent law that would approve the system has not been passed yet. It is obvious that constant collisions, inconsistencies, and simply ambiguous interpretations still exist because of absence of such law.

Source: Журнал «ГлавБух. Налоговые споры» № 8 август