Spiegel has estimated losses of Ukraine from tax schemes

Spiegel подсчитал потери Украины от налоговых схем

Iron ore, steel and agricultural products fall under the scheme of tax evasion.

Ukraine loses up to 750 million euros annually due to the questionable schemes of tax avoidance shows the results of the study of the faction Left and Nordic Green in the European Parliament, which appeared in the German publication Spiegel.

“The results of our study show that over the past three years (from 2015 to 2017) the export of iron ore from Ukraine was at least 20% undervalued,” says the study, which will be released on Monday, September 24. In addition to its own calculations, the authors of the study laid the basis of the data of the Ukrainian tax authorities.

Experts say that not only iron ore but also steel and agricultural products fall under the scheme.

“So the shortfall of taxes to the budget of Ukraine annually reaches 750 million euros”, – stated in the material edition.

The most common method of tax evasion is primarily the establishment of the so-called transfer prices. The company’s branch in the country with higher taxes, such as Ukraine, sells its products to the departments of the same company, however, in countries with low taxes at below market price. As a result, the company provides a lesser amount of profits for taxation in Ukraine.

The results of the study are particularly relevant, given that the EU in 2014 provided financial assistance to Ukraine of 11 billion euros. “This is a big sum for a country where annual economic turnover of 92 billion euros,” – noted in the article.

The publication notes that in the European Parliament turn a blind eye to the deal in Ukraine and don’t want to criticize Kiev given the Russian aggression in the East of the country.

The German newspaper Süddeutschen Zeitung had earlier published an investigation that testifies to large-scale losses of Ukraine due to the comprehensive corruption in the customs – refers to the annual loss of at least $ 4.8 billion.

Recall that in 2018, the Ukrainians doubled the tax on luxury cars.

Earlier it was reported that Kiev had paid taxes for almost half of Ukrainians according to financial disclosure – 1,048 billion.