The Ukrainian parliament has adopted a law commonly referred to as the Tax Amnesty Law, which introduces voluntary disclosure program with respect to unreported taxable income and assets, international law firm Baker McKenzie has noted.
On 21 July 2021, the law entered into force. By its terms, the tax amnesty will be available from 1 September 2021.
According to the law, eligible individuals would be pardoned for tax and currency control offences with respect to personal assets once properly reported by such individuals in strict compliance with the tax amnesty procedures.
The tax amnesty is time-bound to the...
