On 28 December 2014, the Ukrainian parliament approved tax reforms as part of the 2015 budget. In addition to the new transfer pricing rules previously covered, the following changes are made in regard to individual and corporate taxation. Individual Income Tax and Social Contribution Tax The top individual income tax rate is increased from 17% to 20%. For qualifying companies, the social contribution tax rate may be reduced by a coefficient as low as 0.4. The conditions include: The average payroll of the company must have increased by at least 30% from the average payroll in 2014 The average social...