Poroshenko drew up a plan on deoffshorization of Ukrainian business

Source : 112 Ukraine

“Such practice exists in many countries of the world, we simply need to introduce it into Ukrainian legislation” – Poroshenko
19:34, 18 April 2016

President of Ukraine Petro Poroshenko held a meeting with Ministers of the Cabinet of Ministers, MPs and representatives of the fiscal service to discuss legislative initiatives in the field of deoffshorization, informed “Interfax-Ukraine” quoting press service of the President.

“President noted, that the first step would be to join the international convention that provides access to accounts of non-residents. Ministry of Finance of Ukraine and State Fiscal Service of Ukraine must enable signing and ratification of the document, which would provide access of Ukrainian authorities to accounts of Ukrainian residents in foreign banks”, - it is said in the report.

According to the President, it is necessary to enable receipt of taxes from companies, regardless of whether they are registered in Ukraine or beyond its territories, if they directly or indirectly belong to a Ukrainian resident.

“If a Ukrainian resident doesn’t pay taxes in Ukraine, it must be regarded as tax evasion by Ukrainian law and Ukrainian resident must be held accountable”, - Poroshenko emphasized.

President also noted, that as of today 30 countries have joined this initiative.

“Such practice exists in many countries of the world, we simply need to introduce it into our legislation”, - Poroshenko stated.

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.

President of Ukraine Petro Poroshenko’s share in “Central-European Confectionery Company”, which has belonged to “Prime Assets Capital” investment fund, has been transferred to a foreign institution as part of blind trust agreement signed with Rothschild Trust, informed Poroshenko's advisor.

“On April 4, 2016 we announced transfer of the asset to a new foreign institution, which finalized legal procedure of share  transfer on the territory of Ukraine”, - it is said in the statement.

According to the state register, the Dutch Roshen Europe B.V. with 85% share is a co-owner of “Central-European Confectionery Company”.

President of Roshen Vyacheslav Moskalevskiy owns 13% through “Konditerinvest” investment fund, three more managers possess 0,5% each.

The trust agreement was signed on January 14, 2016.

Rothschild Trust confirms trust agreement on Petro Poroshenko’s share in Roshen.

“After 12 months of preparations, the trust management agreement was signed on January 14, 2016”, - it is said in the report of Rothschild Trust.

Related: Poroshenko’s lawyers: “Roshen” is in international trust and pays taxes in Ukraine

Related: Poroshenko: I haven’t been involved in Roshen asset management after becoming President

Related: Anti-Corruption Bureau won’t investigate Poroshenko’s offshore activity

Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

see more