Today the economic growth should be something more than a line of political slogan for Ukraine. Approving itself as the EURO-2012 organizer, the country hopes for the inflow of investments and economic breakthrough.
To fill the vessel with precious moisture, it must be intact, but the bottom of Ukrainian economy looks more like a sieve because most money is transferred to offshore accounts. What is the reason of such love for offshores: heavy taxes or just mentality? This matter was analyzed in the joint research “TRANSFER PRICING: UKRAINIAN AND WORLD EXPERIENCE” by the lawyers of Cai & Lenard Law Firm, who were supported by the Investment and Trade Foundation(ITF).
The joint research includes analysis of Ukrainian and European experience in fighting the tax evasion, flow of capital to the offshore zones, establishing control over the transfer pricing. The research presents forecasts regarding the implementation of the European standards of transfer pricing in Ukraine.
“The fact that on the 5th of July the authorities of the State Tax Service of Ukraine announced an active development of the standards in transfer pricing and called the businessmen for finding the optimal formula for this, makes this research more relevant in today’s realities”, - mentioned Olga Stelmakh, Cai & Lenard’s counsel and one of the research’s authors.
According to Cai & Lenard’s experts, Olena Zaitseva and Volodymyr Dzoban, who worked on this research, the legal loopholes in the sphere of transfer pricing have a negative effect on the country’s economy as a whole and the opportunities of businessmen in particular.
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Investment and Trade Foundation - is the research, information, and expert center in the field of international trade and investment in Ukraine.
Land of money and offshores…
Today the economic growth should be something more than a line of political slogan for Ukraine. Approving itself as the EURO-2012 organizer, the country hopes for the inflow of investments and economic breakthrough.
To fill the vessel with precious moisture, it must be intact, but the bottom of Ukrainian economy looks more like a sieve because most money is transferred to offshore accounts. What is the reason of such love for offshores: heavy taxes or just mentality? This matter was analyzed in the joint research “TRANSFER PRICING: UKRAINIAN AND WORLD EXPERIENCE” by the lawyers of Cai & Lenard Law Firm, who were supported by the Investment and Trade Foundation (ITF).
The joint research includes analysis of Ukrainian and European experience in fighting the tax evasion, flow of capital to the offshore zones, establishing control over the transfer pricing. The research presents forecasts regarding the implementation of the European standards of transfer pricing in Ukraine.
“The fact that on the 5th of July the authorities of the State Tax Service of Ukraine announced an active development of the standards in transfer pricing and called the businessmen for finding the optimal formula for this, makes this research more relevant in today’s realities”, - mentioned Olga Stelmakh, Cai & Lenard’s counsel and one of the research’s authors.
According to Cai & Lenard’s experts, Olena Zaitseva and Volodymyr Dzoban, who worked on this research, the legal loopholes in the sphere of transfer pricing have a negative effect on the country’s economy as a whole and the opportunities of businessmen in particular.
_______
Investment and Trade Foundation - is the research, information, and expert center in the field of international trade and investment in Ukraine.
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