State Tax Service is interested in providing comprehensive assistance to the taxpayers, including informational assistance, so we continue the series of newsletter publications. This week we will talk about what commitments Ukraine has made and what is the implementation mechanism of the MLI Multilateral Convention. Convention entered into force on the 1st of December 2019. Some of its provisions have already been applied starting from the 1st January 2020, while others will be applied from the 1st of June 2020.
Instruments provided by this Convention should have a significant impact on Ukraine’s tax landscape. Particularly, increasing transparency, counteracting aggressive tax planning schemes and combating artificial offshore profits should have a positive impact on economic competition between big, small and medium business. Read more about the MLI Multilateral Convention which is one amount the important measures under the BEPS Plan.