New Architecture Of Business Off-shorization Relationships In Vector: BEPS Rules – Cryptocurrency

• Authors: Olena Katrych , Tetyana Frolova , Nina Yuzhanina

Abstracts

EN

The article analyzes the current practice of organizational and legal regulation of offshore business in the world in the context of unification of the national fiscal and tax system, erosion of the tax base and tax evasion. Based on a study of OECD tax transparency standards, the motivational components of the revision of international agreements on the avoidance of double taxation and the implementation of international rules on taxation of controlled foreign companies (CFC) in the legislation have been identified. The peculiarities of a new type of tax evasion due to the use of cryptocurrency have been studied. Analyzed as the rules of tax transparency are not prepared for the new dimension of finance, in addition to the above, the analysis of the "boom" of cryptocurrency, namely Bitcoin. The directions of introduction of tax practice on restriction of ways of withdrawal of profits in offshore jurisdictions based on provisions of the BEPS Action Plan and rules of CFC in the legislation of Ukraine are revealed.

Keywords

EN

taxation; cryptocurrency; OECD; Bitcoin; BEPS rules; offshore; business; Ukraine; globalization; mining; controlled foreign company; double taxation

• Publisher: Wyższa Szkoła Ekonomiczno-Humanistyczna w Bielsku-Białej
• Journal: MIND Journal
• Year: 2021
• Issue: 11

Dates

published

2021

Contributors

author

Olena Katrych

• Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine

author

Tetyana Frolova

• Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine

author

Nina Yuzhanina

• Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine

References

• Base erosion and profit shifting. URL: http://www.oecd.org/tax/beps/.
• OESD Better Policies for better lives. URL: http://www.oecd.org/.
• Hetmantsev D. Fiscal reform has become a real fetish today. " Law and business. 25.06.-03.07.2016. Issue 26 (1272) URL: https://zib.com.ua/ru/124374-prezident_associacii_nalogovih_sovetnikov_d_getmancev_fiskal.html.
• Marchenko VB Accession to the BEPS Plan and the development of tax control of transfer pricing in Ukraine. Comparative and analytical law. 2018. Issue № 4. URL: http://pap.in.ua/4_2018/88.pdf.
• Oliynyk Y. V., Chizhikova O.V Institutional support of transfer pricing: global context and prospects for Ukraine. Finance of Ukraine. 2019. № 2. https://doi.org/10.33763/finukr2019.02.099

Identifiers

DOI

10.36228/MJ.11/2021.4

Biblioteka Nauki

2168404