Government welcomes the adoption of amendments to the Tax Code as regards the taxation of income of non-resident investors on government bonds

The Cabinet of Ministers of Ukraine welcomes the adoption by the Verkhovna Rada of Ukraine of a Government draft law amending the Tax Code of Ukraine regarding the tax treatment for non-residents - holders of securities of Ukraine. The purpose of the document is to eliminate discrepancies regarding the exemption from taxation on foreign investors' income obtained from trade in government and municipal bonds.

Explaining the need for the document’s approval, Prime Minister of Ukraine Volodymyr Groysman emphasized that the draft law is mostly technical, however it would be useful in the process of organizing the entering by Ukraine the world capital market and it would increase the investment attractiveness of government securities, appearing one of the tools for raising funds in the economy.

"This is an issue of national importance. This is an appropriate and, in its essence, technical bill allowing us borrowing in September", said Volodymyr Groysman.

The explanatory note to the document contains that the adopted law will facilitate the circulation of government and municipal bonds, preventing abuse in this area.