On June 14, 2018 in the city of Dnipro INTEGRITES jointly with the European Business Association held a tax seminar “Bye Bye, BVI” where the speakers Viktoriya Fomenko, Counsel at INTEGRITES, and Oleg Kotliar, Associate at INTEGRITES, shared their practical knowledge and advice on how to run a business facing global changes in the field of international taxation.
During the seminar participants discussed the status of Ukraine on implementation of BEPS measures, shared views on the expected time of subscription to the MLI Convention and CRS.
Speakers analyzed the EU precedents related to payment of passive income, considered common structuring schemes and outlined the risks of doing business without ”substance” having regard to such jurisdictions as Cyprus, Netherlands, UK and Czech Republic.
Viktoriya Fomenko in her presentation emphasized: “The deoffshorization process for Ukraine is inevitable because failure to comply with EU requirements will cause more losses than expenses necessary to fulfil these requirements”.
At the end of the seminar the speakers shared their experience related to development of compliant corporate structures, shared some tips and developed corporate structure considering upcoming rules.