Parliament passes laws on restructuring of foreign currency credits

According to an Ukrinform correspondent, 272 MPs voted in favor of the draft law in entirety, No.4398, "On Amending Certain Legislative Acts of Ukraine on Restructuring Foreign Currency Credit Liabilities and Adaptation of the Procedures for Insolvency of Individuals”. The main purpose of the document is to support citizens of Ukraine who have unfulfilled loan liabilities in foreign currency (foreign currency loans).

In addition, MPs by 269 votes approved the bill in its entirety, No.4399, “On Amending the Tax Code of Ukraine (as to restructuring foreign currency credit liabilities and adaptation of the procedures for insolvency of individuals)”. The document provides for exemption from personal income tax on larger debts.

A total of 273 MPs approved the bill in its entirety, No.4475, “On Consumer Crediting", in particular in terms of restructuring debts on foreign currency loans, transferring all monetary obligations in hryvnia equivalent and writing off penalties under these loan agreements.

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