Ukraine excluded Estonia, Latvia and Georgia from the list of offshore

Украина исключила Эстонию, Латвию и Грузию из списка офшоров

cabinet of Ministers

The decision on inclusion in scisoc these countries was taken without proper consultation. So now Estonia, Latvia, Georgia, Hungary and Malta will be removed from the list.

The Cabinet has excluded Estonia, Latvia, Georgia, Malta and Hungary from the list of States, transactions with residents which are controlled by Ukraine for transfer pricing purposes. The corresponding decision on Wednesday, 31 January, was approved at the government meeting, reports Interfax-Ukraine.

As reported by Finance Minister Alexander danyluk, the decision in December of their inclusion was made without the necessary coordination with these partner countries, so now the government and the Ministry of Finance will take two months for consultations.

“Some countries in their laws, there are provisions that Ukraine can receive the money at a zero rate”, – said the head of the Ministry of Finance of the December decision.

Recall, 27 December 2017, the government of Ukraine included Estonia, Iran, Cuba, Laos, Latvia, Lebanon, Malta, Morocco, Monaco, UAE, Singapore, Georgia and Hungary in the list of risky countries, increasing the total number in the list from 65 to 85.

As reported, the Estonian authorities consider that the inclusion of the country into Ukrainian the list of offshore zones by mistake.

Earlier Latvia has demanded from Ukraine to exclude it from the list of offshore.