Document approved
Cabinet of Ministers of Ukraine approved the draft Agreement between the governments of Ukraine and Belize on exchange of tax information, reports the press service of the Ministry of Revenues.
The Agreement will provide for reasonably requested information exchange between the competent authorities of the two countries, including bank information and information on company owners, agents, nominees and trustees.
The Minister of Revenue and Duties of Ukraine Oleksandr Klymenko reassured that, should these bilateral agreements be implemented, this will essentially simplify exposure of tax avoidance schemes.
The draft agreement is based on a standard OECD Tax Information Exchange Agreement, in line with modern international practices of information exchange with offshore jurisdictions. It is planned to sign similar agreements with other "classical" offshores - British Virgin Islands, Antigua and Barbuda, St. Vincent, Aruba etc.
