Constitutional Court of Ukraine
The CCU declared unconstitutional the provision of the Tax Code on excise tax from retail sale of fuel, which was in effect since 2015. The Court decided that the introduction of the tax without a transition period violated the principle of tax legislation stability. The lack of comprehensive regulation of accounting procedures created excessive burden on businesses.
State Reserves
Two procedures for the formation and storage of state reserves have been approved. The State Reserve Agency is responsible for material reserve formation, while ministries and other authorities handle mobilization reserves. Criteria for selecting storage facilities have been established: minimum 5 years of experience, infrastructure availability, and absence of connections with the aggressor state.
Execution of Court Decisions
The National Strategy for Resolving the Issue of Non-Execution of Court Decisions has been extended until 2027. The plan includes creating a mechanism for tracking court decisions, ensuring the functioning of the Unified Register of Enforcement Documents, developing a Social Code, and analyzing existing moratoriums.
Insurance Intermediaries
A new procedure for authorization and activity of insurance intermediaries has been established. A unified Register of Intermediaries is being introduced, with requirements for training (minimum 15 hours) and professional development. A minimum liability insurance amount of 170 minimum wages has been set.
International Agreements
Review of each of legal acts published today:
On the Accounting Price of Banking Metals
This is a daily notification by the National Bank of Ukraine establishing accounting prices for banking metals (gold, silver, platinum, and palladium) as of 24.01.2025. The notification structure includes a table with metal codes (numeric and literal), measurement unit (troy ounce), and accounting price in hryvnias for each metal. It is important to note that these prices are reference and do not create obligations for the NBU to buy or sell metals at the specified prices.
Key accounting prices per troy ounce: gold – 115,214.51 UAH, silver – 1,276.25 UAH, platinum – 39,776.86 UAH, palladium – 41,575.50 UAH. These prices are used by banks to reflect banking metal operations in accounting and statistical reporting.
On the Official Exchange Rate of Hryvnia to Foreign Currencies
This is a daily notification by the National Bank of Ukraine establishing the official exchange rate of hryvnia to 35 foreign currencies as of 24.01.2025. The document has a tabular structure and contains information about currency numeric and literal codes, currency units, full currency name, and established official rate. Rates are set for accounting purposes and NBU operations with the State Treasury Service of Ukraine.
Key exchange rates for major currencies: US dollar – 41.9751 UAH, euro – 43.6709 UAH, pound sterling – 51.6923 UAH. It should be noted that the established rates do not imply NBU obligations to buy or sell currencies at these rates.
Decision of the Second Senate of the Constitutional Court of Ukraine in the Case of Constitutional Complaint by Limited Liability Company “Geomax-Resurs” Regarding Compliance with the Constitution of Ukraine (Constitutionality) of a Specific Provision of the Second Paragraph of Subparagraph 14.1.212 of Paragraph 14.1 of Article 14 of the Tax Code of Ukraine
The decision concerns the constitutionality of a Tax Code provision on excise tax for retail fuel sales, which was in effect from January 1, 2015. Structurally, the decision consists of three main parts: 1) description of case circumstances and parties’ positions; 2) analysis of the contested norm’s compliance with the principles of rule of law and legal certainty; 3) conclusions on violation of economic entities’ constitutional rights.
Key decision provisions:
– The Constitutional Court found the Tax Code provision on excise tax for retail fuel sales unconstitutional due to violation of tax legislation stability principle
– The law effectively came into force the day after publication, without providing a reasonable transition period for business adaptation
– Lack of transition period and comprehensive regulation of accounting procedure violated economic entities’ rights and the principle of legal certainty
– Such changes created excessive tax burden, especially on small and medium businesses, violating the competition protection principle
Some Issues of Implementing Provisions of the Law of Ukraine “On State Reserves” Regarding State Reserve Formation
The resolution approves two key…
[Note: The last document appears to be cut off and incomplete.]Procedures for the Formation and Storage of State Reserves – Material and Mobilization Reserves
The first procedure defines the mechanism for forming state reserves and moving material assets. Key provisions:
- The State Agency for Reserve Management is responsible for forming the material reserve
- Ministries and other executive bodies form the mobilization reserve
- Clear procedures are established for procurement, quality control, and storage of material assets
- A mechanism for action in case of threat of loss/damage to reserves is defined
The second procedure establishes criteria and mechanisms for selecting responsible custodians and reservists:
- Minimum 5 years of experience in the relevant field
- Availability of necessary infrastructure and permits
- Absence of connections with the aggressor state
- Financial stability and transparent ownership structure
On Submitting for Ratification by the Verkhovna Rada of Ukraine the Framework Agreement between the Government of Ukraine and the Government of the Republic of Finland on Projects Financed under the Finnish-Ukrainian Investment Fund (FUIF)
The order concerns submitting for ratification by the Verkhovna Rada of Ukraine an international agreement between Ukraine and Finland regarding project financing through the Finnish-Ukrainian Investment Fund. The document structure is simple – a brief order from the Cabinet of Ministers of Ukraine to submit the Framework Agreement for parliamentary ratification, which was signed on November 12, 2024, in Kyiv.
The key point is that this document is the first step for the international agreement to enter into force – after government approval, the document must be reviewed and ratified by the Verkhovna Rada of Ukraine so that the agreement can become operational and begin regulating project financing through FUIF.
On Extending the Implementation Period of the National Strategy for Resolving the Issue of Non-Execution of Court Decisions where the Debtor is a State Body or State Enterprise, Institution, Organization, until 2025 and the Action Plan for its Implementation
The order extends until 2027 the term of the National Strategy for resolving the problem of non-execution of court decisions where debtors are state bodies or enterprises. The document also approves an updated action plan for implementing this strategy.
Structurally, the act consists of two parts: 1) the main order to extend the strategy’s validity period; 2) amendments to previous orders, including a new action plan until 2027.
Key provisions of the action plan include:
- Creating a mechanism for accounting and verification of court decisions to determine the total debt amount
- Ensuring the operation of the Unified State Register of Enforcement Documents by the end of 2025
- Developing the Social Code of Ukraine
- Analyzing existing moratoriums on court decision enforcement and developing a roadmap for their phased abolition
- Amending pension legislation to allocate separate funding for executing court decisions
On the Application and Cancellation of Personal Special Economic and Other Restrictive Measures (Sanctions)
This is an NSDC decision on applying personal sanctions to certain individuals based on the suggestion of the Security Service of Ukraine, as well as on canceling…Translation of the first document:
Regarding the imposition of sanctions against one person from the previous sanctions list. The document is structurally composed of 5 points and an appendix containing a list of individuals to whom sanctions are applied. The decision provides a mechanism for implementing sanctions through the Cabinet of Ministers, Security Service of Ukraine, National Bank of Ukraine, and the State Awards Commission, and establishes the procedure for international cooperation through the Ministry of Foreign Affairs. Key provisions include:
– Application of new sanctions to persons listed in the appendix;
– Exclusion of item 1825 from the previous sanctions list dated 19.10.2022;
– Instructions for monitoring the effectiveness of sanctions;
– Tasks for the Ministry of Foreign Affairs regarding informing international partners and facilitating the introduction of similar sanctions.
Translation of the second document:
On the Decision of the National Security and Defense Council of Ukraine dated January 19, 2025 “On the Application and Cancellation of Personal Special Economic and Other Restrictive Measures (Sanctions)”
The decree puts into effect the NSDC decision of January 19, 2025, regarding the application and cancellation of personal sanctions against specific individuals and legal entities. Structurally, the decree consists of three points: implementation of the NSDC decision, determination of control over execution, and entry into force. Control is assigned to the NSDC Secretary.
The key aspect is that this decree serves as a legal basis for applying restrictive measures in accordance with the Law of Ukraine “On Sanctions”. Such sanctions may include asset freezing, trade operation restrictions, prevention of capital withdrawal from Ukraine, and other measures defined by law. The list of sanctions and persons to whom they are applied is contained in the appendix to the NSDC decision.
Translation of the third document:
On Considering the Remarks Expressed by the State Registration Body to the Order of the Ministry of Community and Territorial Development of Ukraine dated December 31, 2024, No. 1506
This order introduces technical amendments to the previous order of the Ministry of Community and Territorial Development of Ukraine No. 1506 dated 31.12.2024 regarding the criteria for determining important enterprises during a special period. Structurally, the order contains editorial clarifications to the preamble and main text of the previous order, including punctuation corrections, terminology clarification, and references to normative acts.
In particular, the writing of dates, punctuation marks are clarified, clarifying words are added, and technical errors are corrected. The main changes relate to: clarification of the full name of KVED-2010, replacement of the words ‘Mininfrastructury’ and ‘Ministry’ with ‘Minrozvytku’, correction of technical errors in word and punctuation writing. These changes do not affect the essence of the criteria for determining important enterprises but only improve the legal technique of the document.
Translation of the fourth document:
On Approval of the Regulation on Authorization of Insurance Intermediaries and Conditions for Conducting Activities in the Sale of Insurance and/or Reinsurance Products
This Regulation establishes the procedure for authorization and conditions of activity for insurance intermediaries in Ukraine. Structurally, the document consists of 9 sections and defines: requirements for persons engaged in insurance product sales; authorization procedure for insurance and reinsurance brokers; authorization procedure for insurance agents and sub-agents; procedure for non-residents to notify their intention to conduct activities; information disclosure requirements; specifics of conducting activities; supervision procedure for intermediaries.
