ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY
Abstract. Growing trends in the shadowing of the international and national economy contribute to the strengthening of legalization of income resulting from tax evasion, using offshore zones, which have favorable fiscal and monetary and financial regimes, with a high degree of protection of banking...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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FINTECH Alliance LLC
2021-11-01
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| Series: | Фінансово-кредитна діяльність: проблеми теорії та практики |
| Subjects: | |
| Online Access: | https://fkd.net.ua/index.php/fkd/article/view/3573 |
| _version_ | 1797706141606608896 |
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| author | M. Blikhar N. Ortynska О. Dufeniuk M. Vinichuk О. Matviienko |
| author_facet | M. Blikhar N. Ortynska О. Dufeniuk M. Vinichuk О. Matviienko |
| author_sort | M. Blikhar |
| collection | DOAJ |
| description |
Abstract. Growing trends in the shadowing of the international and national economy contribute to the strengthening of legalization of income resulting from tax evasion, using offshore zones, which have favorable fiscal and monetary and financial regimes, with a high degree of protection of banking and trade secrecy, as well as loyalty to institutional regulation. In recent years, the problem of legalization (laundering) of income from tax evasion in offshore zones has become more acute, caused by the violation of Ukraine’s national interests due to the reduction of tax revenues to the state budget and the outflow of capital outside the country. The offshoring of the national economy has reached alarming proportions as the country, in a prolonged financial and economic crisis, chronic underfunding of sectors of the national economy and acute shortage of financial resources, invests in highly developed countries. Given this situation, the problem of studying the mechanism of counteraction to legalization (laundering) of income received as a result of tax evasion in offshore zones becomes especially relevant.
The article identifies the features and prerequisites for the functioning of offshore zones, outlines the main problems of effective counteraction to legalization (laundering) of income received as a result of tax evasion in offshore zones. The research of the basic schemes and methods of legalization (laundering) of the incomes received as a result of tax evasion with use of offshore zones is carried out; the economic and legal analysis of normative and legislative maintenance in the field of counteraction to legalization (laundering) of the incomes received as a result of tax evasion, in offshore zones is performed; the dynamics of the number of criminal offenses in the field of tax evasion with the use of offshore zones is analyzed. Measures of the system of counteraction to legalization (laundering) of incomes received as a result of tax evasion through offshore zones are systematized and improvement of the economic and legal mechanism of counteraction to legalization (laundering) of the incomes received as a result of tax evasion through offshore zones is offered.
Keywords: legalization (laundering) of income, tax evasion, economic and legal mechanism, offshore zones.
JEL Classification H26, O17
Formulas: 0; fig.: 4; tabl.: 0; bibl.: 13.
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| first_indexed | 2024-03-12T05:46:51Z |
| format | Article |
| id | doaj.art-c7d24ad555414fbe9c9a724a369f6e0f |
| institution | Directory Open Access Journal |
| issn | 2306-4994 2310-8770 |
| language | English |
| last_indexed | 2024-03-12T05:46:51Z |
| publishDate | 2021-11-01 |
| publisher | FINTECH Alliance LLC |
| record_format | Article |
| series | Фінансово-кредитна діяльність: проблеми теорії та практики |
| spelling | doaj.art-c7d24ad555414fbe9c9a724a369f6e0f2023-09-03T05:35:14ZengFINTECH Alliance LLCФінансово-кредитна діяльність: проблеми теорії та практики2306-49942310-87702021-11-0154010.18371/fcaptp.v5i40.245204ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMYM. Blikhar0N. Ortynska1О. Dufeniuk2M. Vinichuk3О. Matviienko4Institute of Jurisprudence, Psychology and Innovative Education, National University Lviv PolytechnicInstitute of Jurisprudence, Psychology and Innovative Education, National University Lviv PolytechnicLviv State University of Internal AffairsLviv State University of Internal AffairsUzhhorod National University Abstract. Growing trends in the shadowing of the international and national economy contribute to the strengthening of legalization of income resulting from tax evasion, using offshore zones, which have favorable fiscal and monetary and financial regimes, with a high degree of protection of banking and trade secrecy, as well as loyalty to institutional regulation. In recent years, the problem of legalization (laundering) of income from tax evasion in offshore zones has become more acute, caused by the violation of Ukraine’s national interests due to the reduction of tax revenues to the state budget and the outflow of capital outside the country. The offshoring of the national economy has reached alarming proportions as the country, in a prolonged financial and economic crisis, chronic underfunding of sectors of the national economy and acute shortage of financial resources, invests in highly developed countries. Given this situation, the problem of studying the mechanism of counteraction to legalization (laundering) of income received as a result of tax evasion in offshore zones becomes especially relevant. The article identifies the features and prerequisites for the functioning of offshore zones, outlines the main problems of effective counteraction to legalization (laundering) of income received as a result of tax evasion in offshore zones. The research of the basic schemes and methods of legalization (laundering) of the incomes received as a result of tax evasion with use of offshore zones is carried out; the economic and legal analysis of normative and legislative maintenance in the field of counteraction to legalization (laundering) of the incomes received as a result of tax evasion, in offshore zones is performed; the dynamics of the number of criminal offenses in the field of tax evasion with the use of offshore zones is analyzed. Measures of the system of counteraction to legalization (laundering) of incomes received as a result of tax evasion through offshore zones are systematized and improvement of the economic and legal mechanism of counteraction to legalization (laundering) of the incomes received as a result of tax evasion through offshore zones is offered. Keywords: legalization (laundering) of income, tax evasion, economic and legal mechanism, offshore zones. JEL Classification H26, O17 Formulas: 0; fig.: 4; tabl.: 0; bibl.: 13. https://fkd.net.ua/index.php/fkd/article/view/3573legalization (laundering) of income tax evasioneconomic and legal mechanismoffshore zones |
| spellingShingle | M. Blikhar N. Ortynska О. Dufeniuk M. Vinichuk О. Matviienko ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY Фінансово-кредитна діяльність: проблеми теорії та практики legalization (laundering) of income tax evasion economic and legal mechanism offshore zones |
| title | ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY |
| title_full | ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY |
| title_fullStr | ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY |
| title_full_unstemmed | ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY |
| title_short | ECONOMIC AND LEGAL MECHANISM FOR COMBATING LEGALIZATION (LAUNDERING) OF INCOME RESULTING FROM TAX EVASION IN THE CONTEXT OF DEOFFSHORIZATION OF UKRAINE’S ECONOMY |
| title_sort | economic and legal mechanism for combating legalization laundering of income resulting from tax evasion in the context of deoffshorization of ukraine s economy |
| topic | legalization (laundering) of income tax evasion economic and legal mechanism offshore zones |
| url | https://fkd.net.ua/index.php/fkd/article/view/3573 |
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