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Thursday, 08 June 2017 11:00

EY advises on the first Advance Pricing Agreement in Ukraine

EY is acting as a taxpayer’s advisor in the first Advance Pricing Agreement (hereinafter – “APA”) negotiations process in Ukraine. Following the results of the given procedure, it is expected for the first APA to be concluded in Ukraine for transfer pricing purposes.

One of the leading companies in the Ukrainian agricultural sector is intending to conclude unilateral APA. The taxpayer submitted a formal application with the State Fiscal Service of Ukraine (hereinafter – "SFS") following preliminary discussions with the representatives of the SFS, conducted calculations and feasibility study.

An APA is a contract, concluded for a limited period of time (at the moment – for up to 5 years) between a large taxpayer and the SFS, and allows an interested party to obtain compliance certainty with respect to transfer pricing facts, transfer pricing methodology, and arm’s length range of results.

Entering into an APA is a multiple step process. Once a formal application is received, the SFS conducts preliminary evaluation and discussions between the representatives of the SFS and the taxpayer take place. Consequently, the SFS informs if it is willing to consider the APA proposal further.

Igor Chufarov, Partner, and Oleksandr Fedosieienko, Manager, are providing APA support in EY.

About EY

EY is a global leader in assurance, tax, law, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY works together with companies across the CIS and assists them in realizing their business goals. 4,500 professionals work at 20 CIS offices (in Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Kazan, Krasnodar, Togliatti, Vladivostok, Yuzhno-Sakhalinsk, Rostov-on-Don, Almaty, Astana, Atyrau, Bishkek, Baku, Kyiv, Tashkent, Tbilisi, Yerevan, and Minsk). EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

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