Ukraine: Technical Assistance Report—A Follow-Up on Distributed Profit Tax, BEPS Implementation, Voluntary Disclosure Program, and Indirect Methods for Determining Taxable Income

November 23, 2020

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Format: Chicago

Ukraine: Technical Assistance Report—A Follow-Up on Distributed Profit Tax, BEPS Implementation, Voluntary Disclosure Program, and Indirect Methods for Determining Taxable Income, (USA: International Monetary Fund, 2020) accessed September 21, 2024

Summary

Tax policy in Ukraine is engaged in two fronts at once. On one front, very significant work has been done over the years on the gradual improvement and updating of the tax system; on the other, it questions essential tenets of the existing system, exploring fundamental changes to it. While serious efforts have been devoted, for example, to the modernization of the international aspects of the income tax, upgrading the regime to OECD standards, there is a strong push from some quarters of the policy debate to do away with the Corporate Profit Tax (CPT) altogether. The central idea is to replace it with a Distributed Profit Tax (DPT), generally referred to in Ukraine as the Exit Capital Tax (ECT). In essence, this system would not tax profits as they accrue to the corporation, deferring the tax to when the corporation distributes dividends to the shareholder.

Subject: Controlled foreign corporation rules, Double taxation, Income and capital gains taxes, Legal support in revenue administration, National accounts, Personal income, Revenue administration, Taxes

Keywords: CFC rule, Controlled foreign corporation rules, CR, Domestic law, Double taxation, Double taxation, Global, Income and capital gains taxes, ISCR, Legal support in revenue administration, PEM resident, Personal income, Tax authority, Tax burden, Tax return, Taxable income, Transfer pricing

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/302
Stock No:

1UKREA2020003
ISBN:

9781513561400
ISSN:

1934-7685

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