The issue of transfer pricing
2013 will be the first reporting period to submit the Report on controlled operations. It is stated in the Summarizing tax consultations on specific issues of application of the tax laws on transfer pricing, the press-service of the main department of the Ministry of revenue in Holosiiv district informs.
Experts from the Ministry of revenue explained that to determine the volume of controlled transactions one should apply the value terms of all transactions separately by the counterparty for a whole calendar year, ie from 1 January to 31 December 2013. In the report for 2013 the taxpayer shall state controlled operations carried out in the period from 01.09.2013 to 31.12.2013.
To make it clearer for taxpayers they draw an example: The total amount of transactions in 2013 related to one person is 50.5 million UAH (no VAT), and all of these transactions were made before 01.09.2013. In this case report is not required.
If the total amount of transactions in 2013 related to one person is 50.0 million UAH (no VAT), of which 20.0 million UAH are made before 01.09.2013, the rest - after. In this case, the volume of transactions is calculated for the whole year, ie from 1 January to 31 December 2013. Accordingly, the following operations are controlled. The report shows controlled operations carried out in the period from 01.09.2013 to 31.12.2013.
