The Ukrainian parliament has extended the term for submitting information on end beneficiaries to the state registrar by companies by four months.
A total of 267 lawmakers supported draft law No. 2896 on May 22.
On May 25, 2015, the six-month term for submitting information on end beneficiaries to the state registrar by companies will expire. At present, many companies have failed to submit the reports. A fine from Hr 5,100 to Hr 8,500 is foreseen for violating this requirement.
Along with the extension of the term, the draft law states that religious organizations, state and municipal companies, companies which participants are only individuals, and end beneficiaries which coincide with the company participants cannot submit this information.
According to an explanatory note to the draft law, as of Jan. 1, 2015, a total of 1,822 companies were registered in Ukraine, while the state registrar processes around 50 packages of documents during one working day.
