Delegation from Ministry of Finance of Ukraine took part in the meeting of BEPS Inclusive framework

On October 6-7, 2022, Deputy Minister of Finance, Svetlana Vorobei led Ukraine’s delegation to the 14th meeting of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) at the OECD in Paris. Ukraine is one of over 140 jurisdictions working together to implement the international rules to stop tax avoidance and to design new rules to tax the digitalisation of the global economy. 

In meetings with senior officials the Deputy Minister shared the rapid progress Ukraine has made in implementing the international standards on BEPS and on exchange of information for tax purposes, a key tool in the fight against tax evasion and illicit financial flows. With support from the OECD, Ukraine noted improvements in transfer pricing leading to voluntary compliance and an increase of the tax base by more than 520 companies by approximately UAH 11.1 billion  (USD 410 million) for the period 2020-2021. In 2022, more than 80 companies have so far made voluntary adjustments resulting in additional tax revenue of UAH 1.9 billion (USD 70 million).

Pascal Saint-Amans, the Director of the OECD’s Centre for Tax Policy and Administration noted that Ukraine “is making remarkable progress on international tax matters and the OECD stands by to help with advice and technical assistance as a priroty.

In the period 2015-2022, Ukraine also benefited from “Tax Inspectors Without Borders”, an OECD/UNDP initiative helping emerging economies with complex audits of large companies.

Finally, experts from the Ministry of Finance of Ukraine and the OECD discussed the areas of further implementation of the OECD recommendations and guidelines to the tax legislation of Ukraine, determined by the current workplan of the Ministry and the project of the Recovery Plan of Ukraine, as well as cooperation on addressing the international tax challenges faced by displaced people.