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Odesa Finance and Taxes

19/ 06/ 2024
  On June 19, 2024, a meeting of the EBA Odesa Finance & Tax Committee took place, dedicated to current tax issues of the second quarter of 2024. The speaker of the event was Vitaliy Smerdov, Head of the Financial and Tax Committee of the Association in Odesa, partner of the tax practice at Crowe Mikhailenko, and an external consultant of the Verkhovna Rada of Ukraine Committee on Finance, Tax, and Customs Policy. The main issues discussed during the meeting were: Controlled Foreign Companies (CFCs) and Tax Audits: Participants discussed the new rules for CFC control and their impact on business in Ukraine. Special attention was given to CFC tax audits and ways to minimize risks during these audits. Review of Recent Tax Disputes in the Practice of the Supreme Court: Vitaliy presented several illustrative cases showing trends in court practice and providing insights into possible outcomes for businesses. Special attention was paid to decisions that could affect tax planning and strategic decisions of companies. Adopted Law On the White Business Club: The new law, aimed at supporting honest and transparent business, sparked lively discussion. The speaker shared his thoughts on the potential impact of the law on the business environment and discussed mechanisms that will help businesses adapt to the new requirements. The importance of interaction between the state and business in the context of this law was particularly emphasized. The meeting concluded with a productive exchange of views and the development of recommendations for member companies of the Association regarding tax strategies for the near future.

On June 19, 2024, a meeting of the EBA Odesa Finance & Tax Committee took place, dedicated to current tax issues of the second quarter of 2024. The speaker of the event was Vitaliy Smerdov, Head of the Financial and Tax Committee of the Association in Odesa, partner of the tax practice at Crowe Mikhailenko, and an external consultant of the Verkhovna Rada of Ukraine Committee on Finance, Tax, and Customs Policy.

The main issues discussed during the meeting were:

  1. Controlled Foreign Companies (CFCs) and Tax Audits: Participants discussed the new rules for CFC control and their impact on business in Ukraine. Special attention was given to CFC tax audits and ways to minimize risks during these audits.
  2. Review of Recent Tax Disputes in the Practice of the Supreme Court: Vitaliy presented several illustrative cases showing trends in court practice and providing insights into possible outcomes for businesses. Special attention was paid to decisions that could affect tax planning and strategic decisions of companies.
  3. Adopted Law “On the White Business Club”: The new law, aimed at supporting honest and transparent business, sparked lively discussion. The speaker shared his thoughts on the potential impact of the law on the business environment and discussed mechanisms that will help businesses adapt to the new requirements. The importance of interaction between the state and business in the context of this law was particularly emphasized.

The meeting concluded with a productive exchange of views and the development of recommendations for member companies of the Association regarding tax strategies for the near future.

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