Fictitious Business
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)…
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