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Transactions for $3.5 bln with 152 U.S. counterparties fall under transfer pricing – First Deputy PM
KYIV. Sept 3 (Interfax-Ukraine) – Transactions worth almost $3.5 billion with 152 U.S. counterparties are subject to transfer pricing rules, which emphasizes the importance of developing the exchange of tax information between Ukraine and the United States, First Deputy Prime Minister, Minister of Economy Oleksiy Liubchenko said during meetings with the leadership of the U.S. Internal Revenue Service (IRS).
"The importance of such an exchange is difficult to overestimate, since, for example, transactions for almost $3.5 billion with 152 U.S. counterparties fall under the transfer pricing rules," the press service of the Ministry of Economy said on its website, quoting Liubchenko, on Friday.
In turn, Head of the IRS Charles Rettig expressed his intention to assist the Ukrainian side not only in the exchange of tax information, but also in the exchange of experience.