18 May 2016, 17:04
On May 18, one of the authors of the draft law No. 4380 — chairperson of the Batkivschyna faction at the Verkhovna Rada of Ukraine Yuliya Tymoshenko noted that the document offers a number of measures that would administratively and fiscally reduce the attractiveness of using the offshore companies' services on the one hand and lower economic motivations for such a use on the other hand. In some cases the draft law bans or restricts the participation in offshore companies as part of related-party transactions.
The draft law declares a total of 136 countries to be offshore territories, and 14 countries formally not going under the definition of offshore countries, however, allowing the establishment of offshore companies within own tax jurisdictions.
The Committee members noted that the draft law is important to fight tax dodging — the problem fought by the whole world.
The people's deputies decided to recommend that the Verkhovna Rada Committee on Taxation and Customs Policy submit the draft law for consideration of the Verkhovna Rada of Ukraine.