Here is the translation of the provided legal text:
**Of course. Here’s a brief overview of the Order of the Ministry of Finance of Ukraine No. 446 dated August 29, 2025 “On Amendments to the Procedure for the Exchange of Tax Information with the Competent Authorities of Foreign Countries”:**
1. **Essence of the Law:** This order amends the existing procedure for the exchange of tax information with foreign countries. It defines the procedures by which the State Tax Service of Ukraine (STS) exchanges information with foreign competent authorities upon special requests and within the framework of spontaneous exchange. The purpose of the changes is to align with European standards and ensure effective information exchange for the correct application of tax legislation and prevention of tax evasion.
2. **Structure and Main Provisions:**
* The law amends the wording of the Procedure for the Exchange of Tax Information, approved by Order No. 118 dated April 16, 2022.
* It defines the terms used in the information exchange process, such as “automatic exchange,” “special request,” “spontaneous exchange,” etc.
* Establishes requirements for the preparation and submission of outgoing requests from the STS to foreign authorities, including the necessary information and justification.
* Regulates the procedure for receiving, processing, and executing incoming requests from foreign competent authorities.
* Defines the procedure for providing and receiving tax information in the order of spontaneous exchange.
* Establishes control over the exchange of tax information.
3. **Key Provisions for Use:**
* Requirements for the content of the outgoing request: it is necessary to clearly justify the grounds for the request, provide detailed information about the business entities, the period for which the information is requested, and a description of the case.
* Deadlines for processing requests: it is important to take into account the established deadlines for processing incoming requests and providing responses, as well as the possibility of their extension under justified circumstances.
* Confidentiality: any information received during the exchange process is information with restricted access.
* Grounds for refusal to execute a request: it is important to know the grounds under which the execution of a request may be refused, for example, the absence of an international treaty or conflict with national legislation.
* Procedure for spontaneous exchange: it is necessary to take into account cases when information may be transferred to foreign authorities on the initiative of the STS without a prior request.
