The multilateral component authority agreements for the exchange of Country-by-Country Reports (CbC MCAA) and for the exchange of financial account information under the Common Reporting Standard (CRS MCAA) has entered into force in Ukraine.
The CbC MCAA is effective starting 4 July 2024, and the CRS MCAA starting 28 June 2024.
The announcements were made by the State Tax Service of Ukraine on 24 September 2024.
Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports
According to Paragraph 1 Section 8 of the Agreement in order to enter into force of Multilateral Agreement CbC, the State Tax Service of Ukraine on 3 July 2024 sent to the Secretariat of Coordinating Body of the Multilateral Agreement CbC (OECD Secretariat) a notification to the Agreement in accordance with list specified in this Paragraph. The Secretariat of Coordinating Body confirmed receipt of notifications on 4 July 2024 and, according to provisions of Paragraph 3 Section 8 of the Agreement, posted Ukraine’s notifications to the Multilateral Agreement CbC on the secured website of the Organisation for Economic Cooperation and Development (OECD).
As a part of implementation of domestic procedures aimed at entry into force of the Multilateral Agreement CbC, on 27 August 2024, the State Tax Service received a letter from the Ministry of Foreign Affairs of Ukraine about entry into force of the Multilateral Agreement CbC on 4 July 2024 and its inclusion in the Unified State Register of Regulatory Acts.
State Tax Service as a competent authority of Ukraine joined the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports on 3 November 2022.
Multilateral Competent Authority Agreement on the Automatic Exchange of Information on Financial Accounts
State Tax Service as a competent authority of Ukraine joined the Multilateral Agreement CRS on 19 August 2022 by signing the Declaration of Accession by acting Head of the State Tax Service of Ukraine Tetiana Kiriienko.
According to Paragraph 1 Section 7 of the Agreement, in order to bring the Multilateral Agreement CRS in force, the State Tax Service of Ukraine sent on 27 June 2024 to the Secretariat of Coordinating Body of the Multilateral Agreement CRS (OECD Secretariat) a notification to the Agreement in accordance with list specified in this Paragraph. The Secretariat of Coordinating Body confirmed receipt of notifications on 28 June2024 and, according to provisions of Sub-paragraph 2.3 Paragraph 2 Section 7 of the Agreement, posted Ukraine’s notification to the Multilateral Agreement CRS on the secured website of the OECD.
As a part of implementation of domestic procedures aimed at entry into force of the Multilateral Agreement CRS, on 5 August 2024, the State Tax Service received a letter from the Ministry of Foreign Affairs of Ukraine about entry into force of the Multilateral Agreement CRS on 28 June 2024 and inclusion of the Multilateral Agreement CRS in the Unified State Register of Regulatory Acts.
The first exchange of information on financial accounts according to the Common Reporting Standard (CRS) with partner countries is planned not later than 30 September 2024 for the second half of 2023 (the first reporting period). In the future, the previous calendar year will be considered as a reporting period.
List of jurisdictions with which Ukraine plans to exchange information on accountable financial accounts is available at https://tax.gov.ua/baneryi/crs/perelik-pidzvitnih-yurisdiktsiy.
