• Українською
  • Government has approved a plan of measures to prevent money laundering in offshore areas
    Ministry of Finance of Ukraine, posted 03 March 2021 14:25

    With its decision, the Cabinet of Ministers approved a plan of measures to prevent tax evasion by business entities and prevent money laundering in offshore areas.

    The plan directly provides for the following measures:

    • ensuring the updating of the Ukrainian list of offshore zones taking into account EU legal norms and data from the Global Forum on Transparency and Exchange of Information for Tax Purposes and the OECD;
    • prevention of illegal withdrawal of funds abroad, including to offshore zones, illegal movement of goods on the basis of forged invoices;
    • submitting to law enforcement agencies generalized materials formed as a result of monitoring financial transactions, and determining those that may be related to the legalization of income from tax crimes;
    • introduction of automatic exchange of information with tax authorities of other countries, in particular in accordance with the Common Reporting Standard (CRS).

    In addition, the BEPS Action Plan is expected to be further implemented through the adoption of relevant regulations.

    Another point of the plan is aimed at applying tax control measures to prevent the risks of unjustified formation of value-added tax by taxpayers, taking into account the risk category of business entities - participants in tax evasion schemes.