President Petro Poroshenko held a working meeting with representatives of
the government, parliament and fiscal institutions on the elaboration of
legislative proposals on de-offshoring.
The President underlined his determination to make legislative amendments
in the sphere of business regulation related to offshore companies and create
motivations for business legalization and fair tax payment.
The Head of State emphasized that first of all Ukraine must accede to the
international convention on ensuring Ukraine’s access to the accounts of
non-residents. The Ministry of Finance of Ukraine and the State Fiscal Service
of Ukraine must make necessary steps to sign and ratify respective agreement
that will ensure access to the accounts of Ukrainian residents in foreign banks
for the Ukrainian governmental bodies.
“For today, over 30 countries have joined this initiative. I am convinced
that this information must be open, transparent and recorded in relevant
authorities,” the Head of State stressed.
Then, it is necessary to ensure the payment of taxes by the companies owned
by Ukrainian residents directly or indirectly irrespective of the country of
their registration. “If a resident of Ukraine doesn’t pay taxes in Ukraine, it
should be considered by the Ukrainian legislation as tax evasion and provide
for respective liability,” the President said.
Petro Poroshenko notes that respective experience exists in many countries
of the world and “we shouldn’t reinvent the wheel, but introduce these
legislative amendments promptly”.
The President has emphasized the necessity of providing an opportunity for
the Commission on Securities and Stock Market to get necessary information to
prevent tax evasion.
The Head of State once again reminded the importance of judicial reform. It
is particularly related to the constitutional amendments initiated by the
President that will ensure renewal and reboot of the judicial corps and
introduction of new judiciary standards improving the investment climate in the
state.
“Those contemplating whether to vote or not should understand that the
choice is not between the existing project and the one yet to be created, but
between system changes and system conservation,” the President said.
Petro Poroshenko offered to involve foreign auditors in the elaboration of
the mechanism that will create motivation and increase transparency, as well as
prevent the growth of tax pressure. The President intends to touch upon this
issue at the meeting of the National Council of Reforms.
The working groups consists of representatives of the Cabinet of Ministers,
Committee on Taxation and Customs Policy of the Verkhovna Rada, National Bank
of Ukraine, National Commission on Securities and Stock Market and State Fiscal
Service of Ukraine.
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