Ukraine to participate within international automatic exchange of information among tax authorities since 2020
29.09.2017 14:31 "Agro Perspectiva" (Kyiv) —
As of this week, Ukrainian Minister of Finance Oleksandr Danyliuk met with representatives of the Organization for Economic Cooperation and Development (OECD) to discuss the implementation progress of the BEPS Action Plan (Base Erosion and Profit Shifting) and Ukrainian participation within the automatic exchange of financial account information (the AEOI Standard), Government Portal reports.
As to the report, this visit launched the first joint induction programme for the implementation of the international standards on exchange of information and of the BEPS measures. The program will assist Ukraine to implement new international tax standards with a focus on Country-by-Country Reporting and the other BEPS minimum standards, and the standards for exchange of information on request and for the automatic exchange of financial account information (the «Common Reporting Standard»).
Reportedly, Danyliuk told that the Ukrainian Ministry of Finance had developed the detailed Roadmap for the implementation of BEPS minimum standards and is planning to join the Multilateral Instrument (MLI) before the end of 2017.
As to him, MLI is to contribute to the implementation of steps 6 and 14 which are part of the BEPS minimum standards. It will help to improve the mechanisms available to tackle the abuse of tax benefits arising from international agreements and avoidance of taxation on corporate profits. The relevant changes will be added simultaneously in more than 60 international agreements on the avoidance of double taxation.