From 27 May 2015 non-residents, both legal entities and individuals, are exempt from corporate profits tax and personal income tax respectively, on some of their Ukraine-sourced income. Such income includes in particular:
- Interest or income (discount) on state securities, municipal bonds or debt securities which are secured by state or municipal guarantees, provided they were sold or placed by such non-residents outside Ukraine; and
- Interest paid to non-residents under loans granted to Ukraine or local budgets or under loans provided to Ukrainian business entities if such loans are secured by the state.
Evidently, Ukraine is striving to create a favourable business climate and attract new investors.