The Procedure for advanced pricing arrangement in controlled transactions which shall result into conclusion of bilateral and multilateral agreements for the purposes of transfer pricing was approved by the Resolution of the Cabinet of Ministers of Ukraine No. 504 dated 17 July 2015.
Advance pricing arrangement is an agreement which is concluded between large taxpayer and the SFS for a definite period of time and sets out the criteria that determine the compliance of the terms of the taxpayer's future business transactions with the "arm's length" principle.
State authority empowered to collect taxes and charges in the territory of the state where the party (parties) to the controlled transactions are residents may be involved into process of advanced pricing arrangement based on the International Treaty (Convention) on avoidance of double taxation between Ukraine and such state.
Considering that, taxpayer may apply to the SFS with the proposal to conduct preliminary assessment on the pricing arrangement procedure to be conducted in order to ensure feasibility of filing the request on conduction of advance pricing arrangement and proper preparation of documentation along with supportive materials required for the purposes of such procedure.
Accordingly, taxpayer shall forward to the SFS the letter which should obligatorily contain the following: purpose of request (preliminary assessment on the pricing arrangement procedure to be conducted), name of taxpayer, taxpayer's code in the USREOU, phone number, email address, data on the representative (representatives) of taxpayer who will act on taxpayer's behalf during the procedure of advance pricing arrangement ( i.e. title of the post, surname, first name and patronymic, telephone number, email address, documents confirming the powers of such person), as well as data on: substance and factual elements of the controlled transaction, object of pricing arrangement, type of business activity pursued by parties to the controlled transaction along with the indication of the state where they are residents; data that identifies the group of connected persons (structure of the group of connected persons etc; and other data which the taxpayer deems necessarily to provide for the audit during the conduction of advance pricing arrangement procedure.
Following the results of the preliminary assessment on the pricing arrangement to be conducted the SFS shall inform taxpayer in writing as regards feasibility of conducting such procedure within 60 calendar days from the date on which the application for preliminary assessment was filed.
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