On 29-30 May, 2017 an annual two-day conference INTAX FORUM UKRAINE 2017 was held in Parkovy Convention and Exhibition Center, Kyiv. The event brought together international professionals in the field of corporate finance, corporate structuring and international tax planning from all over the world.
The organizers invited the managing partner of EUCON International Legal Center, President of the Ukrainian Business Association in Poland, attorney Yaroslav Romanchuk to participate as a moderator of the first panel discussion “Opportunities for Ukrainian companies on foreign markets”.
In his presentation, Yaroslav explained the benefits of entering the EU market through the jurisdiction of Poland.
Larysa Vrublevska, auditor, partner and head of transfer pricing at EUCON International Legal Center, presented a report during the session on legislative changes in Ukraine affecting international trade and investments.
In her presentation Larysa noted that since 01.01.2017 Ukraine had joined the Extended Cooperation Program as a member of OECD and obliged itself to implement the so-called Minimum standard of the BEPS Action Plan including four mandatory steps out of the fifteen proposed ones:
– Harmful taxation practices or harmful tax regimes – STEP 5 of the BEPS Action Plan;
– Improvement of the existing agreements on the avoidance of double taxation by incorporating the proposed rules for the prevention of the agreement misuse – STEP 6 of the BEPS Action Plan;
– Improvement of national regulations on TFP documentation and future information exchange – STEP 13 of the BEPS Action Plan;
– Improvement of the existing agreements on the avoidance of double taxation by increasing the effectiveness of mechanisms for dispute settlement – STEP 14 of the BEPS Action Plan.
Larysa also highlighted the trends in the field of transfer pricing such as: expanding the list of controlled transactions with non-residents; expanding the list of countries from the 977-р Order list by the Cabinet of Ministers; stimulating independent adjustments of tax liabilities; increasing the number of audits of large taxpayers.