Ukraine, Philip Morris Settle Trade Dispute Over Tariffs, Taxes

The Ukrainian government settled a dispute with Philip Morris Ukraine over underpaid import duties, taxes, and fines, with the adoption of a new regulation, Bloomberg Tax reported.

The agreement allows the sides to settle their differences and avoid the process of filing claims and engaging in international arbitration, according to the regulation.

The Cabinet of Ministers adopted the regulation approving the settlement with Philip Morris International Inc., Philip Morris Global Brands Inc., Philip Morris Brands Sarl (Switzerland), and Philip Morris Ukraine, Bloomberg Tax adds.

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