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Ukraine excludes number of countries from risky list on transfer-pricing

Source : 112 Ukraine

This decision was made on the session of the government on January 31
17:02, 31 January 2018

Facebook Volodymyr Groysman

Ukraine excluded Estonia, Latvia, Georgia, Malta and Hungary from the list of the risky countries on the transfer-pricing. This decision was made on the session of the government on January 31.

Related: Offshore companies could win Yanukovych’s money by court action

‘We constantly monitor the tax systems of different countries and form the lists of the requirements to the Ukrainian companies that work with these countries to make them report on the incomes. Recently the government made a decision on the extension of the list. Estonia, Latvia, Georgia and our partners concerned by this issue entered the list. This issue is very sensitive for our partners and we will make a decision today to cancel these demands for Estonia, Latvia, Georgia and I would include Hungary there’, Groysman, the Prime Minister of Ukraine said.

The government supported such decision. Earlier it supported the decision to add 22 countries, including Estonia and Latvia in the list of the offshore zones. Later Estonia urged Ukraine to remove it from this list and Latvia sent a protest note to Ukraine.

Related: Paradise Papers: 68 Ukrainians siphoned off funds to offshores

The Finance Ministry of Ukraine attempted to explain the position. Oleksandr Danylyuk, the Finance Minister of Ukraine noted at the meeting with the Estonian Prime Minister that Ukraine added Estonia in the list of the countries where the tax for the income is lower than in Ukraine or where the tax for the withdrawn capital is implemented. The issue was not about the offshore list.

 

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