President Signs Law Exempting Additional Paid-In Capital From Taxation

President Yushchenko signed a new tax law which exempts additional paid-in capital from additional share issues from taxation. The new law is set to take effect in 2007.  Nick Piazza: The new law provides incentives for Ukrainian traded companies to set the subscription price during additional share issues equal or comparable to the market price, thus reducing the risk of minority shareholders incurring losses on their investments as a result of dilutive share issues. Currently subscription prices are set equal to par value.