REUTERS
The complete abolition of the limit on such investment is possible only after the implementation of BEPS laws.
Deputy Governor of the National Bank of Ukraine (NBU) Oleh Churiy says the regulator will consider the possibility of doubling the limit on individuals' investment abroad to EUR 100,000 per year, after the Verkhovna Rada, Ukraine's parliament, adopts a package of bills on countering base erosion and profit shifting (BEPS), which passed its first reading on December 3.
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"If the parliament passes the package of bills in the second reading, we will consider the possibility of increasing this investment limit for individuals from EUR 50,000 to EUR 100,000 per year," the NBU's press service wrote on Facebook on December 5, referring to Churiy.
So, the National Bank linked the abolition of certain currency restrictions to the adoption of a package of BEPS bills, for example, a limit on investment by Ukrainians and businesses abroad.
At the same time, the complete abolition of the limit is possible only after the implementation of BEPS laws, the regulator said.
As UNIAN reported earlier, on December 3, the Verkhovna Rada passed a bill on the introduction in Ukraine of a number of rules of the Organization for Economic Cooperation and Development in Europe (OECD) to combat base erosion and profit shifting.
Ukraine in 2017 joined the OECD Action Plan to counter base erosion and profit shifting. On July 23, 2018, Ukraine signed a multilateral convention on the avoidance of double taxation.