Ukraine's State Tax Service recently issued guidance on paying corporate tax on a consolidated basis. Under Ukraine's consolidation rules, a corporate taxpayer may elect to pay tax for each of its branches in various regions of the country. The tax is paid at the regional level for each branch, which is then deducted from the tax payable by the taxpayer in the region where its principal office is located. In order to pay tax on a consolidated basis, the corporate taxpayer must make an election to do so by 1 July prior to the relevant tax year. Once the election...