All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

Ukraine: Ukraine amends list of low-tax jurisdictions

Omelchuk-Nadiya

Nadiya Omelchuk

On October 16 2015, the Cabinet of Ministers of Ukraine adopted Resolution No. 977-R, which amends the list of low-tax jurisdictions for transfer pricing purposes.

In this context, 'low tax jurisdiction' for transfer pricing purposes refers to a state or territory with a corporate tax rate at least five percentage points lower than Ukraine's general corporate rate of 18%. With the newly adopted resolution, the following countries have been removed from the list of low-tax jurisdictions:

  • Georgia;

  • Guadeloupe;

  • Jamaica;

  • Lebanon;

  • Luxembourg;

  • Malta;

  • Morocco;

  • Singapore;

  • Switzerland; and

  • United Arab Emirates (UAE).

After the removal of the above states, the list of low-tax jurisdictions for transfer pricing purposes includes 65 countries.

As a result of the removal of the above jurisdictions from the low-tax list, operations with companies registered in any of these states will no longer be considered as regulated operations for transfer pricing control purposes. These amendments are significant for the Ukrainian business sector and will improve the cooperation with many popular jurisdictions, particularly Switzerland, Luxemburg, UAE and Singapore.

Nadiya Omelchuk (nadiya.omelchuk@eurofast.eu)

Eurofast

Tel: +380 445021068

Website: www.eurofast.eu

more across site & bottom lb ros

More from across our site

The Italian government published plans to levy capital gains tax on cryptocurrency transactions, while Brazil and the UK signed a new tax treaty.
Multinational companies fear the scrutiny of aggressive tax audits may be overstepping the mark on transfer pricing methodology.
Standardisation and outsourcing are two possible solutions amid increasing regulations and scrutiny on transfer pricing, say sources.
Inaugural awards announces winners
The UN’s decision to seek a leadership role in global tax policy could be a crucial turning point but won’t be the end of the OECD, say tax experts.
The UN may be set to assume a global role in tax policy that would rival the OECD, while automakers lobby the US to change its tax rules on Chinese materials.
Companies including Valentino and EveryMatrix say the early adoption of EU public CbCR rules could boost transparency of local and foreign MNEs, despite the short notice.
ITR invites tax firms, in-house teams, and tax professionals to make submissions for the 2023 ITR Tax Awards in Asia-Pacific, Europe Middle East & Africa, and the Americas.
Tax authorities and customs are failing multinationals by creating uncertainty with contradictory assessment and guidance, say in-house tax directors.
The CJEU said the General Court erred in law when it ruled that both companies benefitted from Italian state aid.