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Expanding of tax control possibilities: State Tax Service in cooperation with the EU4PFM implements new solutions for the transfer pricing risk analysis

, published 11 April 2024 at 12:00

Prototype of a new big data processing system in the transfer pricing – automated IT system designed to analyze transfer pricing risks was recently demonstrated.

In the light of the current economic development, there is an urgent need for new approaches and technologies for processing and analyzing large amounts of electronic information, especially for controlled operations.

Main goal of developing such system is to optimize tax control procedures, ensure compliance with the "arm’s length" principle for controlled operations.

Such innovation is aimed at achieving several key goals:

- improving approaches based on risk assessment;

- increasing the speed, accuracy and efficiency of transfer pricing control results;

- reduction of cases of tax violations and legal proceedings;

- minimizing influence of the "human factor".

Given Ukraine's aspirations for the EU integration, application of the OECD Transfer Pricing Guidelines for multinational companies and tax authorities is extremely important. This system plays the key role in effective tax control based on the "arm's length" principle and compliance with these recommendations in practice.

Implementation of project to create automated IT system for analysis of transfer pricing risks is in the final stage.