PRACTICAL ASPECTS OF INDEPENDENT DISCLOSURE OF INFORMATION BY TAXPAYERS ON CROSS-BORDER TRANSACTIONS

Abstract

Foreign economic operations of business entities require detailed analysis and control over compliance with transfer pricing rules. The article is devoted to the study of the obligation introduced by legislation to disclose information by business entities that carry out transactions subject to transfer pricing control.

Today, the issue of independent and full disclosure of information by business entities about the conducted controlled transactions is extremely relevant. Information received in a timely manner makes it possible to conduct an analysis of compliance with the rules of transfer pricing, to carry out its systematization and generalization, to establish possible risks of tax evasion in the middle of the country. Each country independently builds a system of risk assessment and ways of selecting risky operations of business entities, and the timely and complete receipt of information from participants in transnational agreements plays a leading role in the state management of control over transfer pricing.

The article analyzes the modern specifics of the legislation on information disclosure, which can be used during the analysis of the foreign economic activity of economic entities. The three-level transfer pricing reporting model recommended by the OECD in Action 13 of the BEPS Plan is outlined, and consists of transfer pricing documentation, global transfer pricing documentation (master file) and a report by country of an international group of companies.

The national legal basis for reporting on controlled transactions and participation in an international group of companies is emphasized, and the main requirements for their completion are defined. The procedure for self-disclosure of the economic nature of the controlled transaction by submitting transfer pricing documentation has been singled out.

The results of information disclosure were analyzed and the connection between independent information disclosure and timely detection of risky cross-border transactions was established. The dynamics of reporting on controlled transactions since the introduction of transfer pricing control rules were analyzed, in particular in the part of the submitted reporting and the amount of controlled transactions, and the number of residents of Ukraine who independently reported belonging to an international group of companies was determined.

The structure of reporting is described in terms of each form of self-disclosure of information, the terms of its submission, the specifics of the information it contains are emphasized.

A conclusion was made about the importance of timely and complete information acquisition by state bodies, and organizational measures that encourage independent provision of information by economic entities about foreign economic transactions were highlighted.