President Poroshenko Comments on Reports About Offshore Companies
9 April, 2016

During a press conference in Japan, Ukrainian President Petro Poroshenko commented on reports about him holding offshore firms. According to Poroshenko, the main purpose of establishing Prime Asset Partners Limited (BVI) in the British Virgin Islands was to create special enterprises (SPV) to transfer the business of Rothschild Bank, instead of minimizing the tax base like the other participants in the Panama Papers scandal.

“It was not done to minimize taxes, not secretly, nothing. That was absolutely publicly appeared on Ukrainian media and registered in my name”, – said Ukraine’s president..

“This company did not get a penny from Ukraine. And the only purpose of that was the  transparent separation  of business of the Ukrainian president from any political influence”, – added President Poroshenko.

Also, President Poroshenko promised to “introduce a significant reform that will make using offshore companies and offshore accounts in Ukraine impossible.”