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Ukraine: Verkhovna Rada Acts to Save the Economy

(Apr. 25, 2014) On March, 27, 2014, the Verkhovna Rada (Ukraine’s legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. 27, 2014), Verkhovna Rada website.) The Law entered into force on April 1, 2014, immediately after its […]

Romania: Government Approves New Taxation Measures

(Dec. 18, 2013) Romania’s Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter into force on January 1, 2014. (Oana Popa, Romania: Tax Code Amendments Approved – Direct Taxes, […]

Belarus: People Will Be Taxed for Not Working

(Nov. 26, 2013) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, 2015, a tax in the amount of approximately US$280 will be imposed on those who did […]