Ukraine Formally Commits To BEPS Minimum Standards

by Ulrika Lomas, Tax-News.com, Brussels

28 November 2016

Ukraine has committed to participate in international base erosion and profit shifting discussions from the start of next year, under the OECD's new "inclusive framework" for countries.

The commitment was made in a letter submitted by the country's Finance Minister to OECD Secretary General, Angel Gurria, on November 22, 2016.

As a member of the framework, Ukraine commits to implementing the minimum standards put forward by the OECD on BEPS. These are on: harmful tax practices, tax treaty abuse, country-by-country reporting, and dispute resolution mechanisms. Ukraine will also engage in future negotiations on BEPS measures and pay an annual fee.

The framework was announced by the OECD in February 2016 to allow all interested jurisdictions to contribute equally to future work on BEPS and on monitoring the implementation of BEPS measures.

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