UKRN Tax Report Exchange in Force


On Sep. 2, UKRN GVT reminded of start of tax reports exchange.


  • UKRN GVT reminded that the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC) entered into force in July 2024.
  • Over 100 countries have joined international system of automatic exchange of reports.
  • Follows UKRN GVT Feb. 2021 approved country-level report process, see #98479.
  • Background
  • The introduction and exchange of reports across countries is provided for by provisions of Step 13 of the Minimum Standard of the BEPS action plan, a set of international tax rules aimed at strengthening the tax base, which Ukraine undertakes to implement.
  • CbC reporting is submitted by taxpayers if the total consolidated income of the international group of companies to which taxpayer belongs meets certain thresholds.
  • Form of the report and procedure for filing it was approved by UKRN GVT in 2021.
  • Reporting
  • Ukraine taking part in the international system of automatic exchange of information will contribute to the creation of a more transparent tax environment.
  • And improve its image as a reliable and equal partner in international tax relationships.
  • Will allow Ukraine's tax authorities to receive comprehensive information on activities of international groups of companies in the context of specific jurisdictions.
  • As well as to carry out effective analysis of groups' scope of activities, structure of operations, specifics of activities of international groups in relation to transfer pricing.
  • The reports are part of a 3-tiered system of transfer pricing documentation for international groups, which includes transfer pricing (local file), and global transfer pricing documentation (master file).

Regulators UKRN GVT
Entity Types Auditor; Corp
Reference PR, 9/2/2024
Functions Accounting; Compliance; Financial; Operations; Reporting; Risk; Tax; Treasury
Countries Ukraine; Cross-Border
Category Central Government
State
Products Corporate
Regions EMEA
Rule Type Guidance
Rule Date 9/2/2024
Effective Date 9/2/2024
Rule Id 224594
Linked to Rule :98479
Reg. Last Update 9/2/2024
Report Section EU

Last substantive update on 09/04/2024