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“The team was recently visible advising on a number of pharmaceutical cases. Sources agree that the team is “moving in the right direction” and are particularly impressed by its work in the pharmaceutical sector”.

 

Galyna Melnyk Delivered a Speech at the International Tax Forum

16.04.2018

Galyna Melnyk, the Attorney at Law and the Head of Tax Law Practice at Ilyashev & Partners Law Firm, delivered a speech on the “Difference Between the Distributed Profit Tax and Corporate Profit Tax” at the V International Tax Forum, held on April 13, 2018 in Kyiv.

In her report Galyna provided insights on the change in the approach, used to define the object (base) of taxation, provided for in the Draft Law on Amendments to the Tax Code of Ukraine as Regards the Distributed Profit Tax.

“The introduction of distributed profit tax will significantly reduce the amount of tax inspection work and the cost of tax administration, – mentioned Galyna during discussion. – At the moment all taxpayers’ transactions are monitored, but the new tax completely departs from such total control and only certain outgoing payments, identified as the object of taxation by the taxpayers themselves, are to be inspected. Moreover, the re-qualification of a transaction not identified by the taxpayer as being subject to the distributed profit tax will be possible under a court decision only”.

The forum participants discussed the benefits of the distributed profit tax for businesses; transactions equated with the profit distribution transactions; risks of the distributed profit tax introduction and the Estonian business taxation model.

The International Tax Forum is organized by the Yurydychna Praktyka media outlet. The forum was attended by representatives of the Ministry of Finance of Ukraine, the State Fiscal Service, members of Ukrainian and international business associations, partners of the leading law firms, top managers and legal advisers of numerous enterprises.

 
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