Webcast. Crimea: analysis of potential business risk
On 25 and 27 March, Deloitte held a series of webcasts analysing the potential business risks related to conducting business in Crimea. Representatives of both small and large Ukrainian businesses are concerned about the legal issues arising from the territorial dispute over Crimea.
Presentations and discussions at the webcast covered the following areas:
1. An overview of the legal situation in Crimea
2. Title to assets located in the Crimea
3. Conducting business transactions in Crimea and associated currency issues
4. Concerns about taxation
5. The status of Ukrainian companies’ employees
6. Ukraine’s official position on operating in the Crimea
The issues were discussed against the framework of the Draft Law of Ukraine, On Ensuring Rights and Freedoms of Citizens in Temporally Occupied Territory of Ukraine, Ukrainian legislation currently in force, a number of relevant regulations of the Russian Federation, and the rules of international law.
The most popular questions asked by the participants during the webcast explored the following issues: the confirmation of the right to tax credit for companies located in Crimea; payroll payment procedure in Crimea; whether insurance companies will cover losses arising from insured events that occur in Crimea; grounds for termination of employment in the event of a business closing; and whether the Crimea conflict should be regarded as force majeure.
Kirill Slastunov, Tax and Legal Senior Consultant, acted as the webcast speaker.
Deloitte will continue to monitor changes in the legal framework closely and keep the business community advised of the most significant changes.