PwC will work together with the Ministry of Finance to clarify the rules for the international exchange of tax information
01/06/21
On May 31, PwC in Ukraine and the Ministry of Finance of Ukraine signed a Memorandum of Cooperation. We have joined our efforts to improve the compliance of financial institutions in Ukraine with the requirements set for them by international agreements on the exchange of tax information, in particular, by the FATCA intergovernmental agreement.
In the near future, our experts of International Tax Solutions practice will work together with colleagues from the Ministry of Finance to identify FATCA issues that need to be addressed and clarified,will analyze these issues and develop proposals to facilitate the implementation and compliance process with FATCA requirements. As part of our work within the project, we will also evaluate options for implementing CRS and will take into consideration the experience of colleagues in other countries.
Slava Vlasov, Partner, Leader, Tax and Legal Services, PwC in Ukraine comments:
“Our cooperation will allow for clarification of the ambiguous issues of FATCA, facilitate compliance with FATCA and CRS requirements by financial institutions and increase the level of trust between all participants in the process of automatic exchange of tax information”.
Deputy Finance Minister Svitlana Vorobey believes that implementation of the automatic exchange of information under the FATCA agreement is an important step and also a big bonus for our country.
