TRANSFER PRICING PENALTIES IN UKRAINE. ANALYSIS OF THE PRACTICE OF EU COUNTRIES IN SPHERE OF TRANSFER PRICING PENALTIES
Journal Title: Юридичний науковий електронний журнал - Year 2017, Vol 2, Issue
Abstract
The article deals with the question of the transfer pricing penalties provided under Ukrainian legislation for violations, which is arising in the field of transfer pricing, as well as with research of their nature and application in the field of transfer pricing. Attention also was focused on the features of their legislative consolidation in Ukraine. Comparative analysis with European legislation also took place in this article. Main features and key aspects of the institution of transfer pricing penalties in EU countries had been revealed. The purpose of the article is to highlight the main provisions of the legislation of Ukraine on transfer pricing penalties and provide a comparative analysis of the definition and application of transfer pricing penalties in other jurisdictions of EU countries. Penalties by their nature, are intended to stimulate taxpayers adhere to the legislation. Moreover, compliance with legislation in this case would refer as to comply with the procedural requirements – requirements relating to the reporting on controlled transactions, providing information on the request of the supervisory authority and to the requirements as to the correctness of determining the real amount of the tax obligation. The requirements for transfer pricing are based on the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, and they are the same for the participant’s countries of the Organization for Economic Co-operation and Development (OECD). However, it should be noted, that the types, principles and amounts of penalties in transfer pricing vary among countries. Such diversity caused by the difference between the tax systems in EU countries. Therefore, the harmonization of transfer pricing penalties is a quite relevant issue.
Authors and Affiliations
О. О. Гонько
Keywords
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