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In 2021, tax authority charges extra UAH 245 mln in income tax following 14 inspections of controlled transactions
KYIV. Aug 31 (Interfax-Ukraine) – In 2021, the State Tax Service completed 14 inspections on the facts of inconsistency of controlled transaction terms with the arm’s length principle, as a result of which it additionally charged UAH 245 million in income tax and thus losses of companies were reduced by UAH 1.3 billion.
"Now 35 inspections of controlled transactions are underway, the estimated additional charges for which amount to UAH 1.4 billion in income tax and a decrease in losses by UAH 3.5 billion," the tax authority said.
"At present, 25 cases have been selected for further control and verification measures, which involve the understatement of the taxation object for about UAH 4.3 billion," the State Tax Service said.
On average, taxpayers annually submit about 2,500 reports on controlled transactions for UAH 2 trillion.
