Ukraine cancels mandatory use of seals for businesses

Ukraine's law No. 1982-VIII on amendments to several legislative acts of Ukraine on the use of seals by legal entities and individual entrepreneurs entered into force on July 19, according to the Verkhovna Rada's website.

!!!!!!!!!!!!!!!! UAA1 !!!!!!!!!!!!!!!

In particular, the law removed from a number of acts the provision on the mandatory use of seals.

Moreover, a fine worth from UAH 850 to UAH 1,700 (US$32.8 to $65.6) shall be imposed on an official if he or she demands a seal or notarial certification (the latter – in case it is not stipulated by the legislation).

Read alsoUkrainian businesses remain optimistic, trust hryvnia, expect inflation slowdown - NBUThe transition from mandatory to voluntary use of seals in businesses, which entailed much confusion, started three years ago, the authors of the legislative initiative wrote in an explanatory note when filing the bill with the Verkhovna Rada. Not all legislative acts cancelled the clause regarding the mandatory use of seals, and sometimes demanded their mandatory use if the seals were available.

!!!!!!!!!!!!!!!!!!!!!!!! UAA2 !!!!!!!!!!!!!!!!!!!!!