Web discussion: renewal of the transfer pricing audits

State Tax Service of Ukraine is always open for dialogue with business, therefore it actively participates in public initiatives regarding meetings, discussion and solution of current taxpayers’ issues.

At the request of Head of the Tax Committee of the Chamber of Commerce and Industry of Ukraine, managing partner of the CrowMikhailenko Dmytro Mykhailenko, transfer pricing specialists of the State Tax Service held a web discussion on the topic: "Transfer pricing: renewal of audits, practice of successful surcharges, raw materials, profitability range for 2021".

Director of the Transfer pricing department of the State Tax Service Kateryna Ryzhenkova outlined main directions of her team’s work and reported that the main work is aimed at informing payers as quickly as possible about legislative changes in taxation and fast adapting to these changes. Kateryna Ryzhenkova also summarized results of the last year’s work.

"Our goal is to provide payer with necessary information for activities in legal sphere and to focus verification work only on operations with clear signs of risks" – she noted.

Representatives of the State Tax Service discussed in detail renewal of the transfer pricing audits during the martial law, emphasized main factors of attention during conduction of tax control over transfer pricing and resolving disputes regarding compliance with the "arm's length" principle.

A country-by-country report to an international group of companies was also considered. At the end of discussion, participants discussed the possibility of organizing further similar meetings.

Specialists thanked for the invitation and noted that such meaningful meetings for the State Tax Service are opportunity to inform taxpayers about changes taking place in tax legislation and simplify their perception by business.