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News > Knowledge Seminar for the State Fiscal Service of Ukraine on Thin Capitalization Rules

Knowledge Seminar for the State Fiscal Service of Ukraine on Thin Capitalization Rules

12 august, 2014

The seminar was dedicated to the topic of thin capitalization rules and chaired by IFA Ukraine Board Member Iryna Marushko. In her presentation Iryna highlighted different approaches to thin capitalization rules in various countries, i.e. the "arm's length" approach, the "ratio" approach and the "earnings stripping" approach.

During discussion participants agreed that currently in Ukraine "quasi" thin-cap rules are effective, and there is an essential need for introducing comprehensive thin-cap rules and deciding on the most efficient approach.

As for the thin-cap testing, representatives of the State Fiscal Service of Ukraine expressed their opinion that it is worthwhile introducing two-level thin-cap test in Ukraine, i.e. to establish a fixed debt-to-equity ratio and to combine it with the ratio of the amount of interest to EBITDA. The Ministry of Finance of Ukraine, in their turn, supported the practice of one-level thin-cap test based on the ratio of the amount of interest to EBITDA.

In closing, it was agreed to prepare cooperation action plan between IFA Ukraine and the State Fiscal Service of Ukraine for Q 4 of FY 2014.

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