The Bill (Reg. No.2372) introduces amendments to the Law "On Taxation of Income of Enterprises" concerning exemption of income\profit of the Union of European Football Association obtained in Ukraine in the period of holding of the European Football Championship-2012 from tax.
Pursuant to the amendments to Article 11 of the Law "On Value Added Tax", a temporary regulation is being introduced for the period of holding of the European Football Championship-2012 in Ukraine. In accordance with the said regulation, operations related to the import of goods (capital assets) received by the UEFA Organizational Committee in Ukraine are exempt from VAT.
Moreover, profits obtained by the UEFA in Ukraine are exempt from tax, as well as income (salary, cost recovery and compensation of daily allowance) of persons who will render services or perform works due to the holding of the said Championship.