Best Tax Lawyers in Kyiv

About Tax Law in Kyiv, Ukraine:

Tax Law in Kyiv, Ukraine, like the rest of the country, is governed by both the Tax Code of Ukraine and local laws. The primary taxes include VAT, corporate income tax, personal income tax, and social security contributions. Over the recent years, Ukraine has been improving its tax legislation towards an international standard, making it more transparent and favorable for both domestic and international businesses. Nonetheless, the Ukrainian tax system still retains certain complexities and unique features that can be challenging for individuals and businesses.

Why You May Need a Lawyer:

Tax laws can be fraught with complexity, and there are several situations where you may require the help of a tax lawyer. Firstly, if you are starting a business, a tax lawyer can provide advice on the best structure for tax efficiency. Secondly, if you are undergoing an audit or if you have been accused of tax evasion or fraud, a tax lawyer can assist in navigating these situations. Thirdly, if you are planning a large financial transaction, a lawyer can provide guidance on minimizing the tax implications. Finally, if you are an expatriate or a foreign business operating in Kyiv, a tax lawyer can help to understand and comply with local tax laws and regulations.

Local Laws Overview:

In Kyiv, the same as in all of Ukraine, the tax system is composed of national and local taxes. The main national taxes include corporate income tax, personal income tax, and VAT. There are also local taxes like the property tax, which applies to both residential and non-residential properties located within the city limits of Kyiv. For businesses, the Simplified Tax System might be of interest. It contains three groups, each with their own tax rates and with certain restrictions and possibilities. Rates and regulations can change, so it's essential to keep up-to-date with the latest regulations.

Frequently Asked Questions:

1. What is the corporate income tax in Kyiv?

As of today, the standard corporate income tax rate in Ukraine is 18%.

2. Are there any special tax incentives for foreign businesses?

Yes, certain areas called Special Economic Zones and Priority Development Areas offer tax incentives including reduced tax rates and other benefits for foreign investors.

3. What are the consequences of tax evasion in Ukraine?

Tax evasion is a serious offense in Ukraine and can result in fines, penalties, business restrictions, and in severe cases, imprisonment.

4. Is there a double taxation prevention treaty between Ukraine and other countries?

Yes, Ukraine has entered into Double Taxation Avoidance Agreements with over 70 countries to prevent businesses and individuals from being taxed twice on the same income.

5. What is the VAT rate in Kyiv?

The standard VAT rate in Kyiv is 20%. There are reduced rates of 7% and 0% applicable to specific goods and services.

Additional Resources:

You can refer to the website of the State Tax Service of Ukraine for detailed information on tax laws and regulations in Ukraine. The Ministry of Finance of Ukraine is another useful resource for current tax rates and policy updates. Business associations such as the American Chamber of Commerce in Ukraine and European Business Association provide useful information for foreign businesses. Legal firms such as Asters, Sayenko Kharenko offer comprehensive tax and legal services.

Next Steps:

If you require legal help in tax matters, you should first consult a tax lawyer to understand your situation and the available options. Collect all relevant financial documents and details about your business, if you have one. Then, schedule a consultation with a tax lawyer. Be prepared to discuss your financial situation fully and openly, and follow your lawyer's advice closely to ensure the best possible outcome.