16:03 16.04.2018

Poroshenko signs laws on holding Champions League finals in Ukraine

2 min read
Poroshenko signs laws on holding Champions League finals in Ukraine

Ukrainian President Petro Poroshenko has signed two laws that will help create conditions for the proper organization and holding in Ukraine of the final matches of the men's and women's 2017/2018 UEFA Champions League in Ukraine, which in turn will ensure compliance with Ukraine's commitments to support these activities.

According to a report posted on the official website of the head of state on Monday, the issue concerns law No. 2374-VIII on the introduction of amendments to Section XX "Transitional Provisions" of the Tax Code of Ukraine in connection with the preparation and holding in Ukraine of the final matches of the men's and women's 2017/2018 UEFA Champions League and law No. 2375-VIII on the introduction of amendments to Section XXI "Final and Transitional Provisions" of the Customs Code of Ukraine in connection with the organization and holding of the final matches of the men's and women's 2017/2018 UEFA Champions League.

"Changes to the Tax Code envisage the temporary, for the period of the final football matches, exemption from personal income tax and military fees the income received by representatives or officials of UEFA member associations, members of delegations that participate in the final matches of the championship, including by members of teams that qualified for participation in the final matches, individuals accredited by UEFA, in particular employees and temporary workers, media representatives, UEFA partners, and representatives of sponsors (except for residents of Ukraine)," reads the report.

The law also exempts from corporate income tax the profit received before May 26, 2018 inclusive by UEFA and/or its affiliated parties from the transfer and/or use of commercial rights relating to the final matches of the UEFA Champions League and the UEFA Women's Champions League of the 2017/2018 season.

The second law provides for the exemption until May 26 from the import duty of goods (other than excisable goods) imported into the Ukrainian customs territory by UEFA authorized persons, football clubs/teams that participate in the final matches of the UEFA Champions League in 2018, which are needed to ensure the organization and holding of the said events (the sale of such goods on Ukrainian territory is prohibited). The law also exempts from taxation with customs payments the goods, including vehicles, that are temporarily imported into the customs territory of Ukraine by the said persons/organizations to ensure the organization and holding of the respective activities.

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