On November 18, the Chamber held a presentation of the concept of reforming of representative office regulation in Ukraine, developed by the Ministry of Economic Development and Trade of Ukraine, Expert Deployment for Governance and Economic Growth Project (EDGE), Agriteam Canada Consulting LTD and team of experts.
The aim of the discussion was to understand whether the issue is important for business and discuss the best ways to regulate it in order to improve business climate. In particular, Mr. Dusan Kulka, Economic Growth Sector Lead, EDGE Project highlighted that in the most cases opening of representative office instead of creating legal entity is mostly temporary arrangement, therefore, the regulation should be rather simple. At the same time, it should prevent possible abuses, such as tax evasion and unfair competition.
Further, Ms. Iryna Bakina and Mr. Serhiy Verlanov, Sayenko Kharenko outlined the main issues, that arise in the context of creating, functioning and closing representative offices in Ukraine from legal and tax perspective. They also shared some proposals on how these issues may be resolved.
Further discussion with participation of, among others, representatives of the Ministry of Economic Development and Trade Ms. Olesya Zaluska and Ms. Khrystyna Popovych, as well as representatives of EDGE Project Team Mr. Valeriy Dobrovolskiy and Mr. Aleksandr Shabalkov was focused on some specific issues, such as procedure for registering representative offices of foreign banks and special work arrangements for foreigners.
To get involved in the Chamber Legal Committee activities, please contact Olena Stepanova, Chamber Policy Officer (Committees).