The Ukraine State Fiscal Service recently published guidance letter 838/6/99-99-15-02-02-15/IPK, which clarifies the application of the reduced withholding tax rate of 5% on interest payments to nonresidents where the funds for the loan/financing were obtained through the placement of foreign debt securities on an approved foreign stock exchange. The letter includes that for this purpose, the foreign debt securities must have been placed on a foreign exchange included in Cabinet Resolution N…