Metinvest Group has strongly opposed some points of the draft law on combating tax evasion, Base Erosion and Profit Shifting (BEPS), which significantly expands the powers of the State tax service and toughening the requirements to the taxpayers. This is stated in a statement on the official page on Facebook.
"We consider it inadmissible to impose mining and metallurgical complex (MMC) additional taxes in a period of deep crisis in the industry. On the contrary, we count on the support of the state, which should help the industry to overcome the crisis without layoffs of people and businesses," - said in a statement.
In Metinvest warned that adopted in the first reading the bill calls into question not only the work of mining companies Krivoy Rog, but the future of the Ukrainian mining and metals in General.
"the Practice of levying charges for resources with products of higher redistribution is extracted from the depths of raw materials is not applied in any country of the world, and the Panel considers it absurd. We believe that taxation should encourage the increased production volumes of products with higher added value, and not Vice versa", - said Metinvest.
Metinvest Group demanded to consider the opinion of big business, which provides billions of dollars of investment in Ukraine and filling state and local budgets and stressed that sudden and significant changes to the Tax code will never attract new investments, but rather will cause an outflow of existing ones.
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So-called "Draft BEPS" was developed in the framework of the OECD with the active support of countries G20. The essence of the project is to international cooperation in the fight against these schemes cross-border tax planning and to develop a set of recommendations for national authorities and their subsequent implementation in legislation. Thus, the idea here is not to punish taxpayers, but a radical change in the "rules of the game."
Basics "of the Project BEPS" was founded in 2012. And in 2013, the OECD presented its first report on this subject and suggested the so-called "action Plan against base erosion and withdrawal of income from taxation" (eng. Action Plan on Base Erosion and Profit Shifting).
Plan BEPS consists of 15 pips. Each item is a description of certain tax issues and proposed solutions that should implementasourses in domestic legislation and international treaties between them. In October 2015, the OECD completed the final development of all sections of the Plan and provided the final report that was approved at the November 2015 summit G20 Turkey.
it should be noted that at the initiative of the OECD to the plan BEPS can join any country (not just OECD members and G20). Such countries were invited to join the so-called "Inclusive group on the implementation of the Plan BEPS".
