Tax bends: online webinar “Big tax maneuvers 2020: what should Polish investors be prepared for?”

The EUCON Law Group and the International Society of Polish Entrepreneurs in Ukraine, in partnership with the PAIH Kyiv Office, Kredobank and the Dziennik Kijowski, held the first training seminar on July 2th, “Big Tax Maneuvers 2020: What Should Polish Investors Be Prepared For?”. The event was held online.

The main goal the event is to prepare and teach Polish investors the latest changes in tax legislation. EUCON partners, advisers and lawyers gave 7 lectures, during which they told the participants about the reform and changes in the tax system of Ukraine; international aspect, in particular, the implementation of the BEPS plan by Ukraine; new tax administration rules; recent changes in transfer pricing, differences in reporting in the field of TP  in Ukraine and Poland; features of the activities of representative offices of foreign companies in Ukraine; VAT and non-resident income tax from a Ukrainian source; features of the protection of the business, its owners and officials in case of unlawful actions of tax and law enforcement bodies and others.

The webinar began with a welcome speech from the partners of the event. The first who congratulated the participants was the chairman of the Council of the International Society of Polish Entrepreneurs in Ukraine Piotr Tsiarkowsky, who noted the importance of such events. Also, welcoming speeches were made by the Head of the Foreign Trade Bureau in Kiev of the Polish Agency for Investment and Trade Karol Kubica, the Head of the Department of Economic Affairs of the Embassy of Ukraine in the Republic of Poland Igor Baranetskiy and the head of the Economic Department of the Embassy of the Republic of Poland in Ukraine Marlena Katspzhak-Ruchinskaya, who noted the importance of establishing economic and business relations of Ukraine and Poland as neighboring friendly countries, increasing the investment literacy of entrepreneurs and studying the characteristics of the markets of neighboring states.

Yaroslav Romanchuk during the first lecture told the audience about significant changes in the leadership of the State Tax Service of Ukraine and changes in the vector of its activities, paying particular attention to those aspects that relate to the functioning of the business. The speaker also focused on the issues of implementing the BEPS plan in Ukraine, expressing his opinion on the inevitability of our state joining the global processes of tax reform in the international context.

Subsequently, lawyer, adviser to the EUCON Legal Group, Volodymyr Bevza, joined Yaroslav Romanchuk, who focused on aspects of the latest tax administration rules, tax audits, fines, tax lien, appeal against decisions of the tax authority, as well as information that accounting and financial services should have about the latest important changes in Ukrainian tax legislation. In addition, the speaker shared with the participants professional conclusions on the issue of income tax and non-resident income tax with a Ukrainian source, outlining new approaches and a business goal.

About the list of controlled operations, cost criterion and its calculation, calculation of the volume of operations with a counterparty, reporting features, preparation of documentation, monitoring, audits, legislative changes, etc., under the topic “Transfer pricing in Ukraine”, the auditor, partner of the EUCON Legal Group Larisa Vrublevskaya, to whom the lawyer of the Polish EUCON office Inga Livandovskaya joined. Ms. Livandowska, in turn, focused on the aspects of transfer pricing in Poland, in particular on the threshold values ​​of transaction costs in Poland, calculation of transaction costs in Poland and comparing the features of the reporting process for transfer pricing in Ukraine and Poland.

An important issue of the peculiarities of the activity of representative offices of foreign companies and the compulsory registration of non-residents operating in Ukraine was considered by EUCON lawyer Alina Nerozya.

The next lecture was conducted by the auditor, adviser to the EUCON Legal Group, Zhanna Biloblovskaya, who revealed to the audience “pitfalls” that could become an obstacle in the framework of working with VAT, the speaker talked about the timing of registration of invoices and fines for late registration, blocking of tax invoices and actually VAT.

The webinar ended with a general lecture by lawyers, EUCON partners Evhen Petrenko and Andrii Romanchuk. So, Evhen Petrenko focused on the peculiarities of personnel training and education for emergency situations, in particular, on the control and verification activities of tax authorities and the procedural actions of representatives of law enforcement agencies, and also talked about the peculiarities of protecting the business and its owners and officials in case of unlawful actions by tax and law enforcement agencies . Andrii Romanchuk, in turn, told about the activities of forensics as an instrument for preventing and detecting financial and economic crimes.

The event ended with a farewell of Yaroslav Romanchuk, Pyotr Tsiarkowsky, Karol Kubica and Igor Baranetskiy, who shared their impressions of the webinar and emphasized the convenience and effectiveness of the online format for holding such training meetings.