PREREQUISITES AND CONSEQUENCES OF THE USE OF OFFSHORE JURISDICTIONS BY UKRAINIAN BUSINESSES

Abstract

Offshore zones, as legal, financial and tax entities, attract the attention of both governments and the business environment. These zones are used for a variety of purposes, including reducing the tax burden, ensuring confidentiality, privacy and asset protection, as well as facilitating business. However, the use of offshore zones is also associated with risks, which include tax abuse, tax evasion, corruption and money laundering. One of the catalysts of the “offshorization” processes on a global scale was scientific and technical progress, the wide and rapid development of modern means of communication and communication. The emergence and development of the global Internet, satellite communications, etc. have reduced the time required for communication between fairly remote parts of the world to a minimum. The listed points together created qualitatively new opportunities for the comprehensive and rapid development of the offshore sector of the world economy, which allowed it to reach a qualitatively new level. Recent years have been characterized by growing attention to transparency and the fight against tax evasion at the international level. Ukraine is implementing measures to control transactions with offshore jurisdictions and ensure transparency in taxation. The study of this topic allows to reveal the peculiarities of the legal, financial and tax environment of offshore jurisdictions, to identify the advantages and risks of their use, as well as to understand the influence of offshores on the economy and international relations.