LAW OF UKRAINE

of November 7, 2017 No. 2176-VIII

About introduction of amendments to the Tax Code of Ukraine of rather state support of cinematography in Ukraine

The Verkhovna Rada of Ukraine decides:

I. Bring in the Tax code of Ukraine (Sheets of the Verkhovna Rada of Ukraine, 2011, Art. No. No. 13-17, 112) the following changes:

1. To add Item 103.3 of Article 103 with the paragraph third the following content:

"For the purposes of application of this subitem in cases when resident subjects of cinematography of Ukraine pay royalty to nonresidents according to sublicense agreements for use or for provision of the right to use audiovisual works (including movies), and also objects of copyright and/or the related rights used in case of production (creation) of audiovisual works (including movies), such nonresidents are considered as the beneficial (actual) receiver (owner) on such royalty".

2. In Article 140:

add Item 140.4 with subitem 140.4.4 of the following content:

"140.4.4. On the amount of the subsidies received by the taxpayer - the subject of cinematography of Ukraine for return of part of qualified expenses according to the Law of Ukraine "About the state support of cinematography in Ukraine", the income of the accounting period performed in case of production (creation) of the movie and included in structure according to national provisions (standards) of financial accounting or international accounting standards";

in Item 140.5:

in subitem 140.5.7:

add subitem 2 with the paragraph the second the following content:

"For the purposes of application of this subitem in cases when resident subjects of cinematography of Ukraine pay royalty to nonresidents according to sublicense agreements for use or for provision of the right to use audiovisual works (including movies), and also objects of copyright and/or the related rights used in case of production (creation) of audiovisual works (including movies), such nonresidents are considered as the beneficial (actual) receiver (owner) on such royalty";

add subitem 3 with the paragraph third the following content:

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