The Ukraine State Fiscal Services (SFS) recently published a letter clarifying the penalties imposed for failing to submit transfer pricing documentation upon request. According to the letter, the SFS may request transfer pricing documentation after 1 May of the year following the year in which the relevant controlled transactions were performed. If no documentation is submitted within 30 days of the request, a penalty of 3% of the value of the relevant controlled transactions applies; capped at 200 minimum wages. If documentation has been submitted within 30 days but is insufficient, the SFS will issue a follow-up request. In this...