Ukraine may get into offshore list of EU countries

Украина может попасть в оффшорный список стран ЕС

Ukraine threatens to hit offshore list of EU countries

Ukraine should ratify the agreement MLI (Multilateral Instrument) until the end of 2018, otherwise it may get into offshore list of EU countries.

Ukraine may get into offshore list of countries of the European Union, if does not ratify the agreement MLI (Multilateral Instrument) until 2019. It declares the Ministry of Finance, reports on Tuesday, may 15, FinClub.

“Multilateral Convention MLI is an agreement having joined to which country gets the ability to simultaneously make changes to all or some existing Convention for the avoidance of double taxation”, – stated in the message of the Ministry of Finance.

Provided that this agreement is part of a Plan of action BEPS (Base erosion and Profit Shifting) countering base erosion and profit withdrawal from taxation. It is noted that this agreement is a step 15 of the BEPS action Plan BEPS.

As noted in the Ministry, by signing and ratifying the multilateral Convention, Ukraine also performs steps 6 and 14 of the BEPS plan, which are included in the minimum standard of the BEPS plan.

It is reported that at the moment the President is expected to provide authority to the Minister of Finance to sign the agreement, MLI. Then the agreement must be ratified by Parliament.

“Ukraine needs to ratify the agreement MLI to the end of the year, otherwise you may get into offshore list of EU countries”, – warned the Ministry of Finance.

Earlier it was reported that the EU resumed its list of “tax havens”.

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