Tax specialists exposed tax minimization scheme that caused budget losses totaling more than 13 million UAH of taxes

Press service of the State Tax Service of Ukraine, published 11 November 2020 at 12:46 Chapter: News

Tax specialists exposed minimization of tax payments totaling more than 13 million UAH and further withdrawal of funds into the shadow turnover by converting more than 77 million UAH into cash.

During the analytical research, specialists of the Anti-money laundering department of Main Directorate of the STS in Donetsk region jointly with Main Directorate of the SFS in Donetsk region identified that related enterprises of the real sector of economy performed construction and installation work commissioned by enterprises-producers of the metallurgical industry.

Funds received for the performed work were directed to fictitious enterprises to minimize tax revenues and money laundering. Amount of legalized funds amounted to more than 77 million UAH. The state budget did not receive tax revenues in the amount of more than 13 million UAH.

According to the specified materials, a criminal proceeding under Part 3 Article 212 and Article 209 of the Criminal code of Ukraine was entered in the Unified register of pre-judicial investigations.