Date: 4 November 2021
Time: 9:30 - 10:30
Format: Offline seminar/Webinar
Registration: https://cutt.ly/ERguHsr
Starting from 1 January 2022, regulations on controlled foreign companies (CFCs) will apply to Ukrainian beneficiaries who are tax residents in Ukraine and who own / control foreign companies. These new regulations require tax reports on CFC operations to be submitted to the tax authorities of Ukraine and the relevant taxes paid for any CFC’s retained earnings.
CFC legislation contains certain specific features in determining the taxable income of a beneficiary relating to each beneficiary’s CFC: exemption, adjustment of income, tax crediting, etc.
During the event, we will discuss the following issues:
- The conditions under which a beneficiary can exercise exemption and avoid including CFC income in their taxable income
- How to calculate adjusted CFC income: transactions subject to adjustment application
- Whether it is always possible to credit taxes paid by a CFC when calculating adjusted income
- Grey areas of regulations on calculating adjusted income that may cause double taxation of CFC income at the beneficiary level.
KPMG speakers:
Oleksandr Boboshko, Partner, Head of International Tax, KPMG in Ukraine. Oleksandr works in KPMG’s International Tax Practice, keeping clients up to date with all the latest changes and trends. Oleksandr’s previous experience includes work at KPMG Malta where he was responsible for advising clients on international tax structuring when establishing and operating holding companies, as well international financial and trading structures. Oleksandr has provided tax support to corporate and financial restructuring projects in more than 10 jurisdictions; including Malta, the United States, the United Kingdom, the Netherlands, Switzerland, and Italy.
Andrii Buznytskyi, Manager, International Tax, KPMG in Ukraine. Andrii advises on international tax structuring issues, in particular on the creation of holding / trading structures and structuring of investments abroad. Over the last year Andrii has implemented about 25 complex projects on restructuring of international groups with the involvement of foreign KPMG offices and external legal advisors.
If the webinar of interest to you, please register no later than 3 November 2021. Attendance is free of charge. Applications from consulting, law, and audit companies will not be accepted.
Please note that due to quarantine requirements the number of people who can attend this event in the KPMG offices is limited!
KPMG in Ukraine would be happy to respond to any of your business queries. Please send your questions in advance to dberezhna@kpmg.ua, +380688165393.
We look forward to seeing you at our webinar!
