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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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Anonymous Nov. 12, 2010, 8:10 a.m.    

Dear sir ,

I am business man , i am in lvov now for the next couple two days and i am looking for the Ukrainine companies (wood flooring parquet and machines) so kindly send us some address,

Thank you and best regards,

Nabil

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Anonymous Nov. 12, 2010, 3:30 p.m.    

Let's see, the fox is guarding the hen house, so why would the fox want things to change?

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Anonymous Nov. 13, 2010, 11:13 a.m.    

Tymoshenko of course did not use offshore companies

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Anonymous March 13, 2011, 10:45 p.m.    

You must like her so much that you couldn't resist to say her name, even when there is not even a slightest mentioning of her in the article.

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Anonymous Nov. 30, 2010, 3:35 a.m.    

Reputable tax consultants advise their clients not to engage in beahviour that is criminal. In fact, the charters of offshore companies forbid their use as criminal behaviour. As long as corrupt government officials continue to jail business people and are ineffective against mafia extorsion schemes, there will be a market for offshore tax optimization. Tax Justice Network finds London to be among the largest tax haven. Ending offshore centers will simply move those funds away from developing countries and into the banks of London, New York and Miami.

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Anonymous Aug. 21, 2011, 5:29 p.m.    

The reason is obvious Vlad. All the monied people in government and business who control the power in Ukraine are the first in line for these off-shore haens.

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