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Events > IFA Ukraine > Beneficial Ownership and Information Exchange Seminar Successfully Conducted

Beneficial Ownership and Information Exchange Seminar Successfully Conducted

30 september, 2014, Kyiv, Ukraine

The purpose of the event was to discuss the possibility of designing unified approach to application of beneficial ownership concept, while taking into account positions of fiscal authorities, courts, scientists, business and tax consultants. In addition, participants discussed latest tendencies in information exchange sphere.

Pavlo Selezen, PhD in Law, Senior Research Fellow of the National Centre for Tax Issues Research, presented to Seminar invitees historical aspects of beneficial ownership concept, as well as provided critical overview of recent commentaries to OECD Model Tax Convention.

Natalia Rudenko, Senior Manager, Deloitte Tax and Legal Department, described the criteria for determining whether or not the recipient can be qualified as an intermediary. She pointed out that based on OECD Model Tax Convention and relevant provisions of the Tax Code of Ukraine beneficial ownership concept exclude nominee recipients of income, agents, intermediaries and "conduit companies". Natalia Rudenko also recommended developing economic approach along with the formal legal approach when determining the beneficial owner, since OECD is planning to eliminate the practice of concealment of ultimate beneficial owners in the near future.

Deputy Head of Administrative Department of the High Administrative Court of Ukraine Anton Polianychko supported Natalia Rudenko's opinion: "Use and enjoyment of income should be associated with economic participation in generating of such an income through taking relevant management decisions and managing the results". Anton Polianychko then noted that ideologically courts are ready to prioritize economic approach when resolving relevant disputes; however parties to the dispute seem to favor formal legal approach as a more convenient one.

Iryna Kalnytska, Senior Associate, Gvozdiy&Oberkovych Law Firm, further highlighted key international court cases (Indofood, Prevost, Velcro and others) where both economic and formal legal approaches were applied. Taxation and Customs Compliance Manager at Phillip Morris Ukraine Tetiana Mykolenko described particular court case to demonstrate the approach of Ukrainian courts.

Oleksandr Maydanyk, Senior Associate, Egorov Puginsky Afanasiev & Partners Ukraine, presented an overview of practical case of intragroup royalty payment for trademark use under sublicense agreement, as well as discussed facts and supporting points when proving the beneficial owner status for sublicensor.

During the session on information exchange, the Deputy Head of Tax Cooperation Department of State Fiscal Service of Ukraine Serhii Suprun described theoretical and practical aspects of application of legal mechanisms related to information exchange (i.e. spontaneous, automatic, upon request). International specialist, Partner at International Tax Associates B.V. and IFA Ukraine Board Member Roustam Vakhitov, in his turn, demonstrated effective and publicly available tools of information research and analysis for tax purposes.

The event was attended by representatives of State Fiscal Service of Ukraine, Ministry of Finance of Ukraine, High Administrative Court of Ukraine, National Center for Tax Issues Research, multinational companies, leading law and audit firms.

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