Foreign Investors meeting 17.03.15
17.03.2015

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Lviv Oblast State Administration by Governor Oleg Synyutka together with all executive state bodies in Lviv invited investors to meeting about investment climate and barriers operating in Ukraine.

 

Danish Business Association raised several issues to be "worked with and solved" during the time until the next meeting on April 21.2015.

 

1. A few companies have delay on VAT

2. The new tax implementation has created huge administrative burdens for all companies

3. NBU restrictions are harmful for the foreign investment climate and Investors are having extra thought if investing in Ukraine.

a. 75% of incoming foreign capital is automatically exchanged into UAH

b. Dividends cannot be paid for shareholders

c. Huge extra administrative burdens are tight up on the currency issues

4. Working permit for foreigners which is very complicated

5. Corruption and anti-corruption

6. Extra taxes on imported goods and raw materials

 

Above issues will be worked out for that can be solved on the Oblast level. Other will be written in the protocol and forwarded to Kiev level.

 

The general view was a supportive meeting from all state bodies to succeed with supporting foreign companies whom are paying taxes and giving work for Ukrainian people. It was told that the only way to grow economy is through keep focus on helping investors.