As it is stated in the explanatory notes to the projects, their adoption will improve the procedure of administration of taxes and fees, compliance with the principle of fair taxation, will enhance the image of Ukraine in international relations.

In particular, the following acts have been amended:

       in the area of tax administration:

• introduced the principle of tax liability of the taxpayer for tax offenses within the framework of the Tax Code of Ukraine;
• requirements for motivation of decision of supervisory bodies on imposition of fines have been determined;
• the list of tax offenses of the controlling bodies is fixed. These include, for example, failure to comply with the procedure for registering taxpayers or violating VAT refunds;
• the financial liability of the body for the misconduct of its officials and the innocent responsibility of the controlling bodies, etc. are enshrined.

regarding the implementation of the provisions of the BEPS Action Plan:

• introduced the concept of taxation of profits of controlled foreign companies at the level of controlling entity;
• introduced a three-tier documentation structure for international groups of companies, which includes transfer pricing documentation (local file), global documentation (master file) and country-by-country reporting;
• implements the 8-10 steps of the BEPS plan to control the distribution of functions, risks and intangible assets within a group of companies, improve the rules for commodity transactions by eliminating the restriction on the use of stock quotes of certain exchanges and allowing the use of quotations for such commodities;
• the procedure for carrying out the mutual agreement procedure has been determined, which provides for the mechanism of submitting the application for the consideration of the case under the mutual agreement procedure, the requirements for such application, the procedure for the action of the competent authority, etc;
• introduced the concept of taxation of dividends equal to dividends, which provides for adjustments to the methodology and procedures envisaged to control transfer pricing when conducting transactions with non-residents.

in terms of local taxes:

• introduced a unified form of information on rates and privileges for all local taxes and fees and the procedure of providing it with local self-government bodies to the controlling bodies;
• the obligation of local governments to annually decide on local taxes and fees has been abolished;
• abolished privileges for payment for land and real estate tax other than land on the territory of settlements on the line of contact;
• canceled for taxpayers I - III groups of single tax exemption from payment of land tax in the case of carrying out activities for the provision of land and / or real estate located on such land, for rent (rent, loan).

In addition, the bills introduced changes in the issues of personal income tax, corporate income tax, rent and more.