“A clear trend in direction of de-offshorizationis is being taken in developed countries,” said financier Igor Kushnarev

A clear trend in direction of de-offshorization, tightening taxation and declaring capital is being taken in the largest US and European markets, said well-known financier, investor and legal expert Igor Kushnarev during a press conference on global changes in the rules on the world financial markets.

In particular, he noted that “today semi-legal offshore schemes, which all people are accustomed to, no longer work. Legislation in the spheres of finances and banks is constantly becoming tougher. This is clearly seen in the example of scandals involving politicians, government employees and businessmen – immigrants from the former Soviet republics and countries of the socialist camp.”

According to Igor Kushnaryov, about a hundred countries have already signed agreements on which they are obliged to exchange information on taxation, and this system is automated. In fact, the World Tax Service, which operates online and without borders, has been established.

The expert noted that there are countries that are still resisting such an international policy. But the processes that are taking place in these countries, for example, the same anti-corruption actions in Romania, force the governments of these countries to join the global world processes. At the moment, there is an active transfer of offshore jurisdictions to onshore jurisdictions. Geoeconomics and geopolitics dictate new rules.

As for Ukraine’s prospects, in this particular situation, everything depends on ourselves. At the moment, positive trends are visible, but we need time in order to develop and implement an appropriate legislative framework.

Kushnarev added, that his team is already working in accordance with international rules and has many developments in this area. The financier expressed readiness to help both Ukrainian business and public authorities to develop the level of financial services in the country, based on the requirements and trends of world markets.