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Registered by

Ministry of Justice of Ukraine

April 1, 2016

No. 497/28627

ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of March 10, 2016 No. 344

About approval of the Procedure for conducting check concerning respect of the principle of "outstretched arm" by the taxpayer

(as amended on 15-01-2021)

According to subitem 39.5.2.2 of subitem 39.5.2 of Item 39.5 of Article 39 of the Section I of the Tax code of Ukraine I order:

1. Approve the Procedure for conducting check concerning respect of the principle of "outstretched arm" by the taxpayer.

2. To department of tax, customs policy and methodology of financial accounting (Romaniuk Yu. P.) to provide in accordance with the established procedure:

provision of this order on state registration in the Ministry of Justice of Ukraine;

promulgation of this order.

3. This order becomes effective from the date of its official publication.

4. To impose control over the implementation of this order on the deputy minister Makeev A. L. and Chairman of the Public fiscal service of Ukraine Nasirov R. M.

Minister

N. Yaresko

Approved by the Order of the Ministry of Finance of Ukraine of March 10, 2016, No. 344

Procedure for conducting check concerning respect of the principle of "outstretched arm" by the taxpayer

I. General provisions

1. Conducting check concerning respect of the principle of "outstretched arm" by the taxpayer (further - check of respect for the principle of "outstretched arm") is form of tax control on establishment of compliance of conditions of controlled transactions to the principle of "outstretched arm".

2. Respect for the principle of "outstretched arm" is performed according to provisions of Chapter 8 of the Section II of the Tax code of Ukraine (further - the Code) taking into account the features determined by Article 39 of the Section I of the Code and this Procedure.

3. Respect for the principle of "outstretched arm" is performed in the presence of the bases determined by subitem 39.5.2.1 of subitem 39.5.2 of Item 39.5 of Article 39 of the Section I and subitems 78.1. 2, 78.1.5, 78.1.14 - 78.1.16 Items 78.1 of Article 78 of Chapter 8 of the Section II of the Code.

4. Check of respect for the principle of "outstretched arm" is documentary unscheduled inspection.

5. Duration of check of respect for the principle of "outstretched arm" shall not exceed 18 months.

6. Each six months of conducting check of respect for the principle of "outstretched arm" the monitoring body which carries out such inspection provides to the taxpayer information in any form of the current status of conducting check according to the procedure determined by Article 42 of Chapter 1 of the Section II of the Code.

II. Decision making about conducting check of respect for the principle of "outstretched arm"

1. In the presence of the bases determined by Item 3 of the Section I of this Procedure, the head (his deputy or the authorized person) of monitoring body makes the decision on conducting check of respect for the principle of "outstretched arm" which is drawn up by the order.

2. For decision making about conducting check of respect for the principle of "outstretched arm" the head (his deputy or the authorized person) of monitoring body sends to GNS the information message with reasons for the bases for conducting check.

Coordination or motivated objection is provided to GNS within fifteen working days from the date of receipt of the information message about conducting check of respect for the principle of "outstretched arm".

The order on conducting check of respect for the principle of "outstretched arm" is issued by monitoring body after obtaining from GNS of the corresponding coordination.

3. According to the decision of GNS in checks of respect for the principle of "outstretched arm" officials of GNS and/or other territorial authorities can be recruited.

III. Obtaining from taxpayers of documents for conducting check of respect for the principle of "outstretched arm"

1. The taxpayer shall provide to the officials of monitoring body performing the documents connected with check subject within 10 working days from start date of check.

2. During conducting check officials of monitoring body have the right to obtain additional documents and/or information on implementation of the financial and economic activities connected with controlled transaction from the taxpayer; economic activities with untied persons who can be recognized comparable to controlled transaction; confirmations or confutations of information provided by the payer in the submitted report on controlled transactions, documentation on transfer pricing, global documentation on transfer pricing (master file); the data specified in the report by the countries of the international group of companies into which the taxpayer enters; other documents and information necessary for establishment of compliance of conditions of controlled transaction to the principle of "outstretched arm", and also written explanations from official (office) faces of the taxpayer on the questions concerning check subject and their documentary confirmation.

Such documents are provided by the taxpayer on oral request of the officials performing in the time approved with the taxpayer.

3. In case of failure to provide documents and/or information, and also written explanations for officials of monitoring body on oral request, the written request according to the procedure, determined by Article 42 of Chapter 1 of the Section II of the Code is sent to agreed time frame to the taxpayer. The documents specified in the written request and/or information, and also explanations are provided by the taxpayer within 15 working days from the date of receipt of request of monitoring body according to Item 73.3 of article 73 of the Code.

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