A total crackdown on criminal liability legislation and general business crime regulation is developing around the globe and locally. No wonder that Ukrainian realities differ somehow.
Criminal prosecutions became a rather widespread tool of regulatory pressure lately…
Vitalii V. Mazur, Olena V. Pleshan
As described in numerous legal commentaries, the On Amendments to Certain Legislative Acts Regarding Humanization of Responsibility for Legal Infringements in the Sphere of Business Activities Act of Ukraine of 15 November 2011, No.4025-VI has decriminalized a number of activities that were recently classified as business crimes. This Act also “converted” some formerly criminal acts into administrative and customs violations…
Maksym O. Sysoiev, Oleksandr A. Kripak
Probably, from the moment when the state introduced taxes and various duties into society the first attempts to evade paying such taxes and duties were made. Thus, from the very beginning of the taxation system the instrument of liability for violation of tax legislation played a significant role. Tax evasion is considered by the state as a serious violation of legislation and is subject to punishment…
Anna F. Tyshchenko
Being a subject of utmost interest in Europe, VAT carousels remain almost unknown to Ukrainian criminal law practice, lawyers and business. The attention of national legislation and tax authorities is concentrated mostly on identification of so-called “tax holes” and effective elimination of possible negative consequences of their use. There is no such term as “VAT carousel” in Ukrainian legislation, no articles and investigations on this topic…
Vadym S. Tugay
Fictitious business is a crime under Article 205 of the Criminal Code of Ukraine, defined as establishment or acquisition of business entities with the purpose to cover up illegal activities or to exercise prohibited activities.
Though there are various situations where entrepreneurship can be fictitious the law enforcement bodies of Ukraine in the current circumstances focus attention at those businesses that are established in order to minimize taxation (the so-called tax pits)…
Igor V. Krasovskiy, Mykhailo V. Lukashenko
The repercussions of the recent financial crisis are still being felt throughout the world, which means that many corporations will continue to face difficulties repaying their debts. Therefore, debt restructuring is on the agenda of many creditors and borrowers. Although there are several possible solutions for restructuring of the debt, consensual out-of-court restructuring has proved to be the most efficient one...
Anna M. Zafirova
They say that history is the mother of all sciences. Turning back to the past, the Ukrainian-Bulgarian relations could be traced to the Middle Ages. According to scientists, the Slavic tribes, which started settling in the territory of Bulgaria in the 5th and 6th centuries, originally inhabited the lands between the Dnieper and the Dniester Rivers…
Ivan Yurchenko
Corporate restructuring today is not an issue of taxes. In first place it is protection of business and confidentiality of beneficiaries. The requests for restructuring services are in demand, despite extremely low investments in the country and expectations of the next global financial crisis…
Oksana Kyrychenko
Due to the legislation currently in effect, Ukrainian companies that wish to take the IPO journey are restructuring by introducing into their structure a foreign holding company ? the ultimate parent for a Ukrainian business…
Konstantin Sidorenko
One of the important legal aspects of company reorganization is selection of a new legal and organizational form. The most popular form of restructuring in Ukraine is a takeover of competing companies through acquisition of assets or a merger of companies…
Mykola Stetsenko
Certainly, corporate restructuring differs for various industries. Some groups have active trade operations on international markets and they need special trading vehicles within their corporate structures…
Lesia Melnyk
The process of restructuring major state-owned companies and joint stock companies, where the state owns substantial stock, has several features.
Thus, a change of ownership as a way of restructuring such companies takes place by means of privatization in accordance with Ukrainian legislation…
