January 16, the transfer pricing team held its first workshop dedicated to "What should you do if you are not in a range?" Experts of the event were Volodymyr Chizhikov, director and Yevgenia Maruschenko, manager KPMG in Ukraine
Volodymyr opened the workshop with a welcoming speech, emphasizing that the “adjustments” are perhaps the most pressing issue at the beginning of the year.
"How to understand whether you need to make adjustments to financial results and what mechanism would be better to use: you should have the answers to the above questions based on the annual results by the deadline for filing the income tax return", - Volodymyr said.
The workshop considered in detail the mechanisms for adjusting exports/imports towards increase and decrease based on case studies. Additionally, the speakers jointly with the audience discussed the tax risks when using each mechanism, and the ways to mitigate the risk.
As a separate module, they discussed the key changes to Draft Law 1210 adopted by the Parliament on 16.01.2020 in the second reading immediately after the workshop.
“Among the most acute for business issues are the risks of additional tax assessments and amendments in the tax laws - those were the aspects that were the focus of the discussion during the workshop,” Yevgenia commented.