Ukraine Joins Global Forum On Tax Transparency

by Tatiana Smolenska, Tax-News.com, Moscow

25 October 2013

Ukraine has become a full-fledged member of the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The Global Forum is the continuation of a forum which was created by the Organization for Economic Cooperation and Development (OECD) in the early 2000s to promote tax transparency.

"I am glad for the initiative of Ukraine in assuming liabilities to stick to the international standards of transparency and exchange of information for tax purposes," Chairman of the Global Forum, Kosie Louw, said in a letter to Ukraine's Minister of Incomes and Fees, Olexandr Klymenko.

Members of the Global Forum must commit to introducing relevant standards of transparency, as well as the immediate exchange of information with other members. They must also submit to the evaluation of their internal tax systems by OECD specialists.

Ukraine is set to have its tax system evaluated at the end of 2014.

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