We are proud to announce that KPMG in Ukraine was awarded the high prize “National Transfer Pricing Firm of the Year” for 2013 by the International Tax Review editorial team. The European Tax Awards ceremony was held in London on 21 May 2014. This is a remarkable success for our transfer pricing practice and, at the same time, a high standard KPMG is known for keeping up to. We are thankful to the jury for their appreciation of our achievements and to our clients for the challenging projects and the opportunities to demonstrate our expertise in transfer pricing while delivering value to our clients’ businesses and building strong relationships with them.
From the date the Transfer Pricing Law #408-VII was adopted in Ukraine in July 2013, we have invested continuous effort in exploring the legislative base, establishing and supporting the dialogue of the Ukrainian business with the tax authorities as well as developing complex cutting-edge transfer pricing solutions for our clients. KPMG in Ukraine has conducted numerous practical seminars on transfer pricing for Ukrainian companies. Together with the American Chamber of Commerce, we have organized and facilitated a round table for the Ukrainian tax authorities with their colleagues from the Russian Federation, which enabled experience sharing and developing functional approaches to enhance the transparency of transfer pricing control in Ukraine.
In 2013, we successfully delivered over 25 projects to our clients, which included developing transfer pricing policies for large Ukrainian and multinational groups, preparing elaborate transfer pricing documentation files to support the arm’s length level of prices in transactions already performed, preparing and filing the Report on controlled transactions, building the systems for internal transfer price monitoring and developing other individualized turn-key solutions for various businesses.
KPMG has clearly become a leading transfer pricing practice in Ukraine – both in terms of the number and complexity of our projects and in terms of team growth. What started as a small team of five people in early 2013, is now a large practice which includes over 20 specialists with various backgrounds and continues to grow.
Konstantin Karpushin, Head of Transfer Pricing Group at KPMG in Ukraine: “I am happy that we could create such an outstanding transfer pricing team. There are many talented professionals in Ukraine, and we are trying to fully discover their potential. Our specialists’ work is not limited to Ukraine only; they are successful in developing complex and innovative solutions for clients in other European countries”.
International Tax Review is one of the world’s leading magazines dedicated to international tax matters. It covers a wide range of problems, news and trends related to international taxation, and is recognized as one of the most respected editions in the field. Each year, firms across Europe and the globe are awarded, which have demonstrated outstanding results in various categories including corporate tax, litigations, transaction services, restructuring and transfer pricing. Winners are selected based on the submitted descriptions of their work completed during the year. Several factors influence the jury’s decision, such as innovation, complexity of work and client feedback.