Ukraine goes offshore
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.
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?
Announcement To Readers
Since 1995, the Kyiv Post has been the world's window on Ukraine.
Please support the newspaper’s quality, independent journalism with
a digital subscription. Subscribers receive unlimited access to all
stories, archives and PDFs from the Kyiv Post's staff writers and news services.