The list of the low tax jurisdictions was approved by the Cabinet of Ministers of Ukraine

On 25 December 2013 the Cabinet of Ministers of Ukraine approved a list of low tax jurisdictions where the corporate income tax rate is five or more percentage units less than that applied in Ukraine, i.e. 14% and less in 2013, in 2014 - 13% and less, in 2015 - 12% and less and in 2016 - 11% and less (under Law № 713-VII passed on 19 December 2013 it is provided that the corporate income tax rate is decreased from 19% to 18% (beginning 1 January 2014) with further decreases to 17% (beginning 1 January 2015) and to 16% (beginning 1 January 2016).

Moldova, Georgia, Cyprus, Malta, the United Arab Emirates, Ireland, Switzerland and 66 other jurisdictions are included to the list that will be applied for identification of controlled transactions for transfer pricing purposes.