On 13 May 2014, the Ukrainian Parliament adopted amendments to the Tax Code regarding transfer pricing. The main changes include:

• The transfer pricing report submission deadline is extended from 1 May 2014 to 1 October 2014 - the change is retroactive
• Penalty changes:
  • The penalty for non-reporting is reduced from 5% of the total amount of unreported transactions to 100 minimum monthly salaries…