Ukraine has joined the Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA Addendum). The Addendum provides the international legal basis for exchanging an expanded set of data under the updated Common Reporting Standard (CRS).
What this means for Ukraine
Ukraine’s tax authorities will be able to receive more complete and better-structured information from foreign counterparts about financial accounts held abroad by Ukrainian tax residents. This will help the State Tax Service to:
- detect undeclared foreign income;
- identify account holders and controlling persons more accurately;
- improve the quality of tax risk analysis;
- counter tax evasion and the offshoring of income more effectively;
- ensure a level playing field for taxpayers who comply voluntarily.
Why the standard was updated
The OECD approved the updated CRS in 2023 following a comprehensive review that took into account developments in the financial sector, new financial products and practical experience. The changes cover new instruments that can serve as alternatives to traditional financial products, clarify the information to be reported, and strengthen due diligence procedures.
What it does not do
Joining the Addendum does not introduce a new tax and does not involve public disclosure of financial account information. Tax authorities use the data solely for tax purposes defined in international agreements, in line with confidentiality and data protection requirements.
Background
Ukraine joined the Multilateral Agreement in August 2022 and has taken part in automatic exchange under the CRS since 2024. In 2026, the Ministry of Finance updated national CRS rules to reflect the revised international standard. Joining the Addendum is the next step in implementation, and it also brings Ukrainian legislation closer to EU law, including the changes introduced by the DAC8 Directive (as regards CRS).
Implementation of the updated CRS in Ukraine is supported by the European Union’s Public Financial Management Support Programme in Ukraine (EU4PFM).
Source: Ministry of Finance of Ukraine