Ukrainian Tax Alert | March 2021

The Order of the Ministry of Finance of Ukraine #839 as of December 31, 2020 approved the form of the notification on participation in an international group of companies (hereinafter - the IGC Notification or the Notification) and the procedure for its drafting.

The IGC Notification will form a basis for implementation of three-tier transfer pricing documentation in Ukraine.

The IGC Notification should be first submitted by October 1, 2021, together with a report on controlled transactions.

Though a taxpayer usually has all information for drafting the report on controlled transactions, completion of the IGC Notification requires group members to share information with the taxpayer, so may be rather time-consuming.

This Tax Alert is devoted to review of information to be received from IGC members so that a taxpayer could submit the IGC Notification timely and avoid penalties.