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Profit Shifting in Ukraine’s Iron Ore Exports

According to Ukraine’s government, up to €750m is lost annually to the state budget due to profit shifting by iron and steel exporters to avoid corporate taxation...via EU jurisdictions like Luxembourg and Netherlands. Find out how and why in GUE/NGL's latest study looking into the problem of transfer pricing in one of the world's biggest iron and steel exporters, and how under-invoicing reduces the profitability of the iron ore exporters in Ukraine but increases the profitability of related (openly or via complex ownership structures) located in low taxation jurisdiction - sadly, a very common tax avoidance strategy.

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