REUTERS
Ukrainian President Petro Poroshenko has signed into law the bill amending the Tax Code of Ukraine in the part of taxation of income of non-residents who invest in securities, according to the presidential press service.
In order to increase the investment attractiveness of government securities and local loan bonds, the law, adopted by the Verkhovna Rada September 7, specifies the list of transactions with government securities, the income from which received by nonresidents shall not be taxed.
In particular, this refers to revenues from government securities paid by a central executive authority, which ensures the formation and implementation of public financial policies.
Read alsoFinance minister's team to meet with foreign investors ahead of Ukraine's bonds issueIt is reported that the law comes into force from the day following the day of its publication.
As UNIAN reported earlier, late in the evening on September 7, the Ministry of Finance informed about forthcoming meetings with investors in London on September 11-12, in New York on September 13 and in Boston on September 14, after which, taking into account market conditions, Ukraine would issue dollar-denominated external state loan bonds.
The Ministry of Finance also noted that together with the proposed issue, they announced the offer to buy out existing bonds of Ukraine's external state loan maturing in 2019 and 2020.
Read alsoRada votes to remove tax on foreign profit from debt swapsAccording to the program with the International Monetary Fund, Ukraine at the end of 2017 will return to the market of foreign commercial borrowings and issue Eurobonds worth $1 billion.
Experts estimate that the Finance Ministry will issue new Eurobonds with maturity from 10 to 15 years with a coupon of 7.3%-7.5% totaling up to US$2.5 billion, while net amount after deduction of costs for redemption of former bonds will be about $1 billion.