The Chairperson of the Verkhovna Rada of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine (Regarding Restructuring of Liabilities for Foreign Currency Loans and Adaptation of Insolvency Procedures of Individuals)” (No. 4399).

The Law of Ukraine No. 4399 “On Amendments to the Tax Code of Ukraine (Regarding Restructuring of Liabilities for Foreign Currency Loans and Adaptation of Insolvency Procedures of Individuals)” provides for exemption from personal income tax:

- the amount of debt (credit) on a mortgage loan in foreign currency, forgiven by the creditor out of bankruptcy;

- the amount by which the debt of an individual has been reduced (forgiven) through restructuring.

The law was submitted to the President of Ukraine for signature.

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