Five large taxpayers have agreed to test a pilot project of the State Tax Service of Ukraine called “horizontal monitoring,” which is designed to give early warnings to taxpayers about possible risky financial operations they might be engaged in. “We can in real time provide the possibility of identifying these risks and reacting appropriately to such risky operations. When companies heard about the service, [and] the new technologies that we offer, some of them agreed to participate in the pilot project,” said the head of the state tax service, Vitaliy Zakharchenko. In particular, ArcelorMittal Kryviy Rih (Dnipropetrovsk region), LUKOIL-Ukraine (Kyiv), METRO Cash & Carry Ukraine (Kyiv), Nibulon (Mykolaiv), and State Railways Administration Ukrzaliznytsia will participate in the project. As reported, the “horizontal monitoring” project foresees the processing of information about taxpayers` financial operations and the identification of possible risky calculations and operations, as well as possible problems with contractors performing these operations. `Kyiv Post`