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Ukraine's Cabinet expands list of offshore zones

Source : 112 Ukraine

The Caribbean section is supplemented by the jurisdiction of Sint Maarten
18:44, 29 September 2021

Cabinet of Ministers of Ukraine
Open source

The Cabinet of Ministers of Ukraine has approved a draft order to supplement the Ukrainian list of offshore zones with a new jurisdiction - Sint Maarten. The relevant decision was made at a meeting of the Cabinet of Ministers.

“To amend the appendix to the order of the Cabinet of Ministers of Ukraine of February 23, 2011 №143 “On the assignment of states to offshore zones”, supplementing the section “Caribbean region” with the position of “Saint Martin after the position of “Saint Lucia”,” the order reads.

As is stated in the explanatory note, the document was developed at the suggestion of the Ministry of Foreign Affairs of Ukraine.

The authors believe that its adoption will increase the effectiveness of public financial monitoring in the field of combating money laundering, terrorist financing and financing the proliferation of weapons of mass destruction.

As it was reported earlier, in March of this year, the Cabinet of Ministers of Ukraine approved a plan of measures that should prevent tax evasion of business entities and prevent money laundering in offshore zones. The plan provides a revision of the list of offshore zones.

Related: Ukraine, U.S. ratify agreement on FATCA de-offshorization

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