Hid­den bil­lions

Kyiv Post - - Opinion -

It is widely known that wealthy Ukraini­ans pre­fer to keep their mil­lions in off­shore en­ti­ties. But the pub­lic rarely gets a sneak peek at that wealth.

One of those rare op­por­tu­ni­ties came this week, when in­ves­tiga­tive jour­nal­ists around the world re­leased sto­ries based on a mas­sive leak of doc­u­ments on off­shore com­pa­nies. This sec­ond big leak in two years was dubbed the Par­adise Pa­pers, a spin on the name of the first big leak, the Panama Pa­pers.

It wasn’t sur­pris­ing to find sev­eral high-pro­file Ukraini­ans men­tioned in the leaked doc­u­ments, and it says some­thing about Pres­i­dent Petro Poroshenko that his name was among the least sur­pris­ing dis­cov­er­ies.

It says even more about him that in the five days since the re­lease of the doc­u­ments, which pro­vided more in­for­ma­tion about his at­tempts to move his busi­ness off­shore and evade taxes, Poroshenko has found no time to com­ment on it.

While Ukraine is strug­gling to re­form its com­pli­cated and flawed tax sys­tem to stim­u­late busi­nesses to pay more taxes, the pres­i­dent’s per­sonal ex­am­ple stim­u­lates busi­nesses to do ex­actly the op­po­site - move off­shore, away from the an­noy­ing bur­den of taxes.

And Ukraini­ans don’t even find the in­for­ma­tion about Poroshenko’s af­fairs re­vealed in such leaks sur­pris­ing any­more.

Newspapers in English

Newspapers from Ukraine

© PressReader. All rights reserved.