CERTAIN LEGALASPECTS OF TRANSFER PRICING IN UKRAINE
Journal Title: Юридичний науковий електронний журнал - Year 2016, Vol 3, Issue
Abstract
The application and development of transfer pricing is closely linked to the development of international trade and international investment. Unfortunately, the tax system of Ukraine never was favorable for doing business. So important is proper legal regulation, the elimination of inconsistencies and specification of rules that govern transfer pricing. The main initiators of the introduction of state regulation over transfer pricing are three powerful organizations: The organization for economic cooperation and development (OECD), the European Union (EU), the Organization Ob dannymac (UN). During the development of documents regulating issues in the field of transfer pricing, these organizations cooperate with each other. These documents are not inherent in the harsh hierarchy. States may adopt these or other donated, which in their opinion are most suitable for the national characteristics of the economy. First transfer pricing rules have been developed in the United States. This example was followed by other countries. The main provisions of the OECD Guidelines are reflected in article 39 of the Tax code of Ukraine. But often, in the regulation of transfer pricing, there are difficulties, namely: 1) to nauonline legislation there is a significant list of controlled transactions, which is contrary to the Recommendations of the OECD and the European practice; 2) the lack of normative regulation of the concept of «transfer pricing policy»; 3) increase Statute of limitations for assessment by regulatory authorities of tax liabilities and more. Important for the development of transfer pricing is the improvement of the mechanism for the exchange and disclosure of information for tax purposes. This exchange must be conducted in accordance with international standards. It can be carried in three forms, but the most effective is the automatic exchange of information. Currently, Ukraine has not acceded to the Standards of automatic exchange of financial information. It will be in the near future. This requires a comprehensive reform of the entire system of international agreements, the implementation of certain legislative and technical requirements on the part of Ukraine.
Authors and Affiliations
Л. В. Товкун
Keywords
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