The formation of a modern domestic commodities exchange is a necessary precondition for the creation of transparent pricing and price monitoring in Ukraine. This was discussed at a meeting on the development of commodity exchange market headed by Minister of Economic Development and Trade of Ukraine Aivaras Abromavicius.
Recently adopted by the Verkhovna Rada of Ukraine amendments to the Tax Code of Ukraine concerning control over transfer pricing on products that have stock quotes for transactions with related non-resident persons registered in offshore zones require the Minister's list of exchanges for receiving specific pricing information.
The meeting discussed problematic issues of pricing pertinency provided by international and Ukrainian exchanges and its application in transfer pricing, as well as the ways of the formation of a modern stock market in Ukraine.
"Ukraine needs exchanges that operate within market rules. It is necessary to use international experience in the processes of exchange trading involving such world stock exchanges as CME Group and NYSE Euronext," the Minister said.