Roshen pays all taxes in Ukraine – Poroshenko’s lawyers

Roshen pays all taxes in Ukraine – Poroshenko’s lawyers

The companies in foreign jurisdictions, which were set up for transfer of Roshen’s assets of the President of Ukraine Petro Poroshenko into a blind trust, did not open bank accounts and did not carry out any financial transactions. 

This is stated in the press release of the Avellum Law Firm, a legal adviser of President Poroshenko, appointed to prepare his share in Roshen for the sale.

"These companies did not open bank accounts and did not carry out any financial transactions. Therefore, tax evasion allegations are groundless," reads the press release, available to Ukrinform.

The lawyers point out that the the share capitals of foreign companies were not paid up, shares owned by the client had no par value and, therefore, were not subject to declaration under Ukrainian laws.

"Even after the asset is transferred into the blind trust, all income will be paid to a Ukrainian company, not to an offshore one. Therefore, all taxes will be paid in Ukraine, the funds will remain in Ukraine pursuant to Ukrainian legislation and banking regulations. The establishment of a foreign structure does not affect the tax burden of Roshen group in Ukraine, which continues to pay taxes according to the laws of Ukraine," says the press release of the Avellum Law Firm.

As a reminder, on Monday, the Avellum lawyers said that the Ukrainian President’s share in the company Roshen could be passed in a blind management trust only by establishing companies in foreign jurisdictions.

April 3, the media released the information with reference to the documents of the Mossack Fonseca law firm on the "Panama offshore companies", owned by many influential people from around the world. A number of Ukrainian government officials, including President Petro Poroshenko, is on the list.

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