Volodymyr Chyzhykov spoke at Tax & Business Talks Forum | KPMG | UA
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Volodymyr Chyzhykov moderated and spoke at Tax & Business Talks First Tax Forum

Volodymyr Chyzhykov spoke at Tax & Business Talks Forum

On 24 November 2017, Volodymyr Chyzhykov, Senior Manager of TP Group KPMG in Ukraine delivered a presentation “What should management know about transfer pricing?” and moderated Transfer pricing: problems, reporting, and judicial practice section of the Forum.

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Volodymyr Chyzhykov moderated and spoke at Tax & Business Talks First Tax Forum

On 24 November 2017, Volodymyr Chyzhykov, Senior Manager of TP Group KPMG in Ukraine delivered a presentation “What should management know about transfer pricing?” and moderated Transfer pricing: problems, reporting, and judicial practice section of the Forum. 

The Forum was held by Ukrainian Bar Association. The discussion at the Forum mainly focused on the reasons of Ukrainian tax system’s irrelevance to today’s business environment. The lawyers discussed problems related to tax disputes and criminal responsibility, specifically focusing on transfer pricing issues.

Volodymyr Chyzhykov explained why transfer pricing should not be ignored, providing case-based argumentation, outlined TOP-5 errors typically made by companies in their reporting, and provided recommendations to top management on how such errors can be avoided.

“It should be remembered that transfer pricing is viewed by tax managers as one of the largest risks in the next three years. Furthermore, one of each five documentation enquiries from tax inspectors results in a tax audit. To avoid negative consequences of the tax audits, we recommend checking whether the company’s profit sharing and pricing processes meet its business model and legal requirements, that is, assess the risks, and make proper changes, if necessary,” Mr. Chyzhykov said.  ‘It is also desirable to put in place pricing and TP reporting processes monitoring and control,” he added.

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