Ukraine goes offshore

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Nov. 12, 2010, 1:50 a.m. | Ukraine — by Vlad Lavrov

Tourists sunbathe near the Mediterranean Sea in Larnaca, on the southern coast of Cyprus. The island nation is a top destination for money transfers from Ukraine.
© (AFP)

Vlad Lavrov

Kyiv Post staff writer

The proliferation of tax-minimization schemes, some of dubious legality, is costing the Ukrainian state budget billions of dollars each year in lost revenue. Yet officials show no inclination to crack down on these offshore havens. Why?
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