On 13 May 2014, the Ukrainian Parliament adopted amendments to the Tax Code regarding transfer pricing. The main changes include:
- The transfer pricing report submission deadline is extended from 1 May 2014 to 1 October 2014 - the change is retroactive
- Penalty changes:
- The penalty for non-reporting is reduced from 5% of the total amount of unreported transactions to 100 minimum monthly salaries (minimum monthly salary for the period is UAH 1147)
- The penalty for non-submission of tr…