18:55 Apr. 4, 2016
Offshore tax schemes of dozens of prominent world figures - including President Petro Poroshenko and 20 other Ukrainians - have been exposed by ICIJ
President of Ukraine Petro Poroshenko said that he withdrew from asset management, outsourcing this function to consulting companies and law firms, according to the president's posting on Facebook.
"I believe I might be the first top office official in Ukraine who treats declaring of assets, paying taxes and conflict of interest issues profoundly and seriously, in full compliance with the Ukrainian and international private law," Poroshenko said.
"Having become a President, I am not participating in management of my assets, having delegated this responsibility to the respective consulting and law firms," said Poroshenko. "I expect that they will provide all necessary details to the Ukrainian and international media."
As reported, according to the investigation of the Organized Crime and Corruption Reporting Project (OCCRP), which is based on documents from a Panamanian law firm Mossack Fonseca, Ukrainian President Petro Poroshenko created three offshore companies for management of assets, including a confectionery corporation Roshen, without giving any details about this move in his report to tax services.
In general, the investigation refers to the offshore schemes of 12 current and former presidents and more than 120 businessmen worldwide.