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

International Monetary Fund

No 2020/302, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; taxable income; tax authority; PEM resident; tax return; domestic law; tax burden; transfer pricing; CFC rule; double taxation; Personal income; Controlled foreign corporation rules; Legal support in revenue administration; Double taxation; Income and capital gains taxes; Global (search for similar items in EconPapers)
Pages: 82
Date: 2020-11-23
New Economics Papers: this item is included in nep-acc and nep-cis
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