Whilst all headlines will be on the action of the last RADA session passing the 2013 budget, 234 MPs also supported Law 11285 which relates to securities and derivatives - something that won’t make the headlines.
Law 11285 introduces a specific tax on transactions with securities and derivatives, a 0% rate on stock exchange transactions, 0.1% rate for off-stock exchange transactions with securities on the stock exchange lists, and a 3% tax rate on off exchange market transactions.
Further it reduced the tax on profits from these transactions from 20% to 10%.
Why is this significant? Well it should encourage those Ukrainians who can, to buy Ukrainian debt rather than relying entirely on the international markets to do so.
Anybody wanting a good and reliable securities trader based at a bank in Odessa let me know as I just happen to be friends with a lady who is the Department Chief of Securities Trading at a certain bank here.