KIEV, Aug. 1 – The Ukrainian parliament has passed a law on amendments to the Tax Code of Ukraine and some other Ukrainian laws at a closed session on Thursday.

As for profit tax the lawmakers restricted the beneficial taxation for collective investment institutions (CIIs), canceled taxation at the reduced tax (10%) on profit received from transactions with securities and derivatives. The exemption of taxation of hospitality business and energy companies that generate electricity only from renewable energy sources was also canceled.