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“The team was recently visible advising on a number of pharmaceutical cases. Sources agree that the team is “moving in the right direction” and are particularly impressed by its work in the pharmaceutical sector”.

 

Securities transactions «driven» in the exchange sector

11.02.2013

Source «Ukrainska pravda. Economic truth»

Tax innovations legislator is trying to «force» securities transactions in the stock market sector of the OTC sector.

Told lawyer, head of Kharkiv office of law firm «Ilyashev and Partners» Oleksii Khrystoforov.

«Because of the innovations of the Tax Code in transactions of sale of securities and derivatives transactions on the stock exchange, the tax rate is 0% of the transaction. Therefore claim that in the case of such operations at the exchange takes place with output / evasion of tax is, in my opinion, is not quite correct», – said the lawyer.

According Khristoforova adopted tax innovations legislator just trying to «force» transactions in securities in exchange sector of the OTC sector.

Conducting transactions on the exchange, except severe state control, implies incurring stakeholders related financial (stock) costs.

The expert noted that the scheme away from payment of excise duty will necessarily, it happens with increasing practice of relevant innovations of the Tax Code, and the advent of tax clarifications and especially litigation disputes with the DPS.

«I have no doubt that such disputes will be a lot, because, firstly, the relevant rules of the Code prescribed rather contradictory and put them into practice at first will not be easy. Secondly, an important factor in dealing with the uncertainty of future disputes will be that securities transactions are used primarily by players of big business, ie «weight classes» disputants be serious», – says Khristoforov.

The lawyer said that the tax agent of exchange and OTC transactions with securities in which the transfer of title to them, as well as derivatives, are relevant securities trader (the licensee), including a bank.

 
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