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 Ukraine to reconsider bilateral agreements as part of deoffshorization, - Finance Minister Danyliuk

Ukraine plans to revise bilateral tax agreements within the framework of deoffshorization process.

Censor.NET reports referring to Finance Minister Oleksandr Danyliuk's Facebook page.

"Implementing the instructions of the president, we have already discussed a few steps towards deoffshorization. In particular, we plan to employ measures that have been suggested by the Organization for Economic Cooperation and Development (OECD) and proven to be effective," he wrote.

He said that first of all, the ministry will work on Ukraine's accession to the multilateral agreements on exchange of information, enabling to rapidly share financial records and prevent tax evasion.

Read more: Laws on 'deoffshorization' to be drafted by June 1, Poroshenko says

In addition, a gradual revision of Ukraine's bilateral agreements on the avoidance of double taxation in accordance with the OECD principles is planned.

"At the moment, three such agreements between Ukraine and other countries meet the criteria. Moreover, we will improve the transfer pricing rules and reporting," Danyliuk wrote.
 
 
 
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