Law firm “Avellum”, engaged in selling Petro Poroshenko’s shares in “Roshen” confectionery company, commented on the scandal tied to “Panama Papers”, where the President of Ukraine is mentioned, informed TSN.
The firm confirmed that Poroshenko intends to sell his shares in “Roshen”. Agreements have been signed – including agreements with international lawyers.
It has been reported, that, as of today, blind trust agreement has already been signed. Creating a company in foreign jurisdiction was the only way to transfer assets into management of an international trust institution.
“Companies in foreign jurisdictions are necessary to transfer them in blind trust. There have been no bank accounts opened by these companies, there have been no financial operations. Thus, all allegations concerning tax evasion are unfounded”, - it is said in the lawyers’ report.
Moreover, the law firm denies that taxes go to offshore areas.
“Even after the assets are transferred into blind trust, the receiver of tax payments will not be an offshore, but a Ukrainian legal entity. Thus, all taxes will be paid in Ukraine and the revenue, according to the law and rules of bank regulation, will stay in Ukraine”, - Poroshenko’s lawyer explained and added that “Roshen” continues to pay taxes according to Ukrainian laws.
Earlier, journalists and dozens of media all over the planet simultaneously released materials about owners of large offshore businesses. The investigation is based on the so-called Panama Archive, the selection of documents belonging to Mossack Fonseca, Panama-based low-profile company.
The documents reveal activities of the company from 1977 till December 2015; they unfold stories about offshore mechanisms of concealing billions of dollars, involving former and current heads of states, and other famous political figures and celebrities. Among them are President Petro Poroshenko, ex-Prime Ministers Pavlo Lazarenko and Yulia Tymoshenko. The National Anti-Corruption Bureau stated that it refuses to investigate Poroshenko’s offshore activity.