Ukraine prepares to fight bribery of foreign officials
26 November 2024 11:35
The Committee on Finance, Taxation and Customs Policy has recommended adopting in the second reading the draft law No. 10319 on amendments to the Tax Code of Ukraine to take into account the provisions of the Recommendations of the Council of the Organization for Economic Cooperation and Development (OECD) on tax measures to further combat bribery of foreign officials in international business transactions. This was announced by the Chairman of the Committee Danylo Hetmantsev, "Komersant Ukrainian" reports.
According to him, the proposals and amendments finalized by the Committee for the second reading, in particular
– extend the provisions of the draft law establishing the tax consequences of accounting for expenses made for corrupt purposes to Ukrainian officials;
– supplement the provisions of the Tax Code of Ukraine with a provision that expressly prohibits the deductibility of expenses related to the receipt of unlawful benefits as a general principle of tax legislation;
– provides for other amendments aimed at ensuring the implementation of the OECD Council Recommendations on Tax Measures to Further Combat Bribery of Foreign Public Officials in International Business Transactions.
Why it is important to adopt this law
According to Danylo Hetmantsev, amending the Tax Code and, accordingly, taking into account the Recommendations of the Council of the Organization for Economic Cooperation and Development, will not only contribute to the further implementation of international standards and the fight against bribery and bribery of officials, but will also be another step towards Ukraine’s membership in the OECD.
MP Yaroslav Zheleznyak also believes that the adoption of the draft law No. 10319 as a whole is a very important step for Ukraine’s further movement towards membership in the Organization for Economic Cooperation and Development.
According to him, the law should be adopted in December before the next stage of negotiations on this issue. on December 13, the final report before the application is due.
