The Cabinet of Ministers approved a new list of States (territories) transactions with residents which are subject to transfer pricing purposes. About it reports a press-service of the Ministry of Finance of Ukraine.

The criteria on which the selection took place:

– the States (territories) in which the rate of tax on profits of enterprises of 5% or more lower than in Ukraine, that is below 13%;

– States with which Ukraine has concluded international agreements with provisions on exchange of information;

– the state, the competent authorities which do not provide timely and full exchange of tax and financial information requests of the Public fiscal service of Ukraine.

During the consideration of the criterion at the rate of tax on profit of enterprises, which is 5% or more lower than in Ukraine were taken into account not only the basic rate, but also preferential rates for certain sectors, territories, types of activity.

Operations with the contractor, registered in the state (territory) included in the above list are subject to transfer pricing purposes from 1 January of the reporting year following the calendar year in which the state (territory) have been included in this list, it submitted report to regulatory authorities.

The list included 85 States (territories).

Compared with the previous list, the new added countries such as Guadeloupe, Guatemala, French Guiana, Commonwealth of Dominican Republic, Dominican Republic, Estonia, Iran, Cuba, Laos, Latvia, Lebanon, Mauritius, Malta, Morocco, Monaco, UAE, Singapore, Georgia, Hungary.

Read also: Just business. One of the Ukrainians is seen in the “Paradise Islands”

Earlier it was reported that the top Manager of Natfogaz Sergei Alekseenko accused of creating offshore companies. Alekseenko has denied the allegations.

The Cabinet has added 19 countries to “offshore”list 29.12.2017

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