19 December 2013, 17:53
The bill (Reg. No. 2737 refined) introduces the institute of consolidated group of income tax payers in order to simplify the pricing policy on sales of goods within the group of tax payers by providing participants of the group with tax preferences when administering the tax.
Particularly, it is suggested not apply provisions of the Tax Code regarding tax control over transfer pricing to internal transactions between the affiliated persons of the consolidated group.
The bill stipulates that the consolidated group can be established by tax payers if one of the participants of the group either directly or indirectly owns more than 70 per cent of the sum of the statutory capital.
The document establishes criteria that the future participants of the consolidated group should correspond to.