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Webinar | Corporate Restructuring in Ukraine: Consolidations & Liquidation

On May 19, GOLAW law firm and the KyivPost held the online seminar “Corporate Restructuring in Ukraine: Consolidations & Liquidation”. Speakers of the event – GOLAW lawyers Max Lebedev, Iryna Kalnytska and Taras Lytovchenko.

“During the global recession one of the ways to minimise disruption to your company is to review its corporate structure”, explained Max Lebedev, Partner at GOLAW, Head of the Corporate Law and M&A practice. Corporate restructuring allows to deal with inefficiencies of the business as well as it opens new opportunities in the market. 

Max pointed out that accession of the companies can help struggling businesses make debts and liabilities more manageable. The speaker also emphasized that the process of reorganization is rather complex, but the outcomes can be very impressive according to his own practice.

Iryna Kalnytska, Partner at GOLAW, Head of the Tax  practice, talked about the taxation matters during the corporate restructuring. According to Iryna, tax consequences of the accession definitely encourage businesses to implement it: no tax obligation on income tax, as well as no VAT shall be applicable for the transaction. Iryna pointed out that even after the long lasting debates with the tax office, the courts finally  confirm that losses from previous periods (income tax negative value) of the accessing company may be transferred to the successor.  This makes accession for the business – where one company is loss making and the other profitable – very attractive.

The company shall settle all disputes with the tax office and complete the process of receiving VAT budget refund  before commencement of the corporate restructuring

commented Iryna.

She also said that the key aspect in liquidation process is liquidation tax audit. The speaker strongly recommended to prepare properly for this and conduct the internal preparatory tax audit. “This will allow the company to reveal all mistakes and possible violations before tax authorities will do it, and, obviously, to correct them on time” said Iryna.

Max Lebedev

Max Lebedev

Partner, Head of Corporate Law and M&A practice, Attorney at law

  • Recognitions
  • Best Lawyers in Ukraine 2021
  • The Legal 500 EMEA 2020
  • Ukrainian Law firms. A Handbook for Foreign Clients 2019
Iryna Kalnytska

Iryna Kalnytska

Partner, Head of Tax practice, Restructuring, Claims and Recoveries practice, Attorney at law

  • Recognitions
  • The Legal 500 EMEA 2020
  • Best Lawyers, Ukraine 2020
  • Who’s Who Legal 2020
  • Ukrainian Law firms. A Handbook for Foreign Clients 2019
Taras Lytovchenko

Taras Lytovchenko

Counsel, Attorney at law

  • Recognitions
  • Best Lawyers in Ukraine 2021
  • The Legal 500 EMEA 2019

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