RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of December 27, 2010 No. 1232

About approval of the Procedure for carrying out counter reconciliations by monitoring bodies

According to Item 73.5 of article 73 of the Tax Code of Ukraine the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for carrying out counter reconciliations by monitoring bodies which is applied.

2. This resolution becomes effective since January 1, 2011.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of December 27, 2010, No. 1232

Procedure for carrying out counter reconciliations by monitoring bodies

1. This Procedure determines the mechanism of carrying out counter reconciliations by monitoring bodies.

During counter reconciliation:

comparison of the data obtained from taxpayers and other subjects of information relations for the purpose of documentary confirmation of the economic relations with the taxpayer and charges, and also confirmation of the relations, type, amount and quality of transactions and the calculations perfromed between them for clarification of completeness of their recognition of the taxpayer is performed;

it is provided the tax information necessary for establishment of compliance of conditions of controlled transaction to the principle of "outstretched arm" in the cases provided by subitem 39.5.2.13 of subitem 39.5.2 of Item 39.5 of article 39 of the Tax Code of Ukraine.

2. Counter reconciliations are carried out for the purpose of receipt of the tax information necessary in connection with conducting checks of taxpayers.

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