Technical support mission of the IMF on tax policy, which for almost three working weeks were held in videoconference with the participation of representatives of the Ministry of Finance of Ukraine concluded on 21 July its work.
“The scope of the Mission included a review of the recent changes in the tax law according to the rules of international taxation, in particular those introduced by the Law of Ukraine from 16.01.2020 No. 466-IX” On amendments to the Tax code of Ukraine concerning improvement of tax administration, elimination of technical and logical inconsistencies in the tax legislation”, – stated in the message.
As noted, the experts reviewed the main tax innovations in the context of implementation of the BEPS action Plan: introduction the rules controlled foreign companies the tools to prevent tax evasion and the unjustified use of tax incentives; improvement of the rules of recognition of permanent missions; improvement of the rules of control over transfer pricing. Separately discussed the features of possible implementation in Ukraine considering the experience of other countries, the one-time voluntary Declaration.
The Finance Ministry added that during the operation was provided comments on specific aspects of the implementation of these pronouncements, given the world experience of using these tools of fiscal policy. The suggestions of the experts are of practical value to the work of the Ministry of Finance and the State tax service on projects of regulatory legal acts and explanations on the practical application of tax innovations.