The Ukraine State Fiscal Service has issued guidance letter 3771/ІPK/99-00-05-05-02-06 regarding the taxation of gains on debt securities listed on foreign stock exchanges including, in particular, the Irish Stock Exchange. The letter clarifies that Ukraine-sourced gains derived by a non-resident from the alienation of securities, including debt securities, are subject to withholding tax at the standard 15% rate, except for securities placed on a foreign stock exchange included in the list ap…