Tax evasion scheme totaling 66 million UAH during the sale of corporate rights was exposed

Anti-money laundering department of Main Directorate of the STS in Sumy region exposed tax evasion scheme in especially large amounts during the sale of corporate rights and subsequent money laundering through their investment in start-ups.

Non-accrual and non-payment of the personal income tax and military levy in especially large amounts were exposed during monitoring of the Unified Register of Tax Invoices and tax reporting provided by individuals for 2020.

An individual registered in Sumy city, carrying out financial and economic activities in 2020 received income from the alienation of corporate rights totaling more than 357 million UAH, herewith by unreasonably underestimating financial result from operation with investment assets and entering knowingly false data in property and income declaration for 2020, which led to the non-payment of taxes to the budget totaling more than 66 million UAH, including PIT amounting to more than 61.0 million UAH and military levy totaling more than 5.5 million UAH. 

Main Directorate of the STS in Sumy region in cooperation with Security Service of Ukraine in Sumy region compiled materials and handed over to the Main Investigation Department of the National Police of Ukraine. Proceedings, according to the above specified facts, were registered on the grounds of a crime under Part 3 Article 212 of the Criminal Code of Ukraine.

In the course of investigation of the specified criminal proceeding, based materials provided by the investigator of Main Investigation Department of the National Police of Ukraine in cooperation with Security Service of Ukraine in Sumy region and Main Directorate of the STS in Sumy region, was exposed money laundering by this individual, received from tax evasion in the amount of more than 66.5 million UAH, regarding which relevant materials were compiled and handed over to the investigative unit.

In regard to money laundering, the investigative bodies registered criminal proceeding under Part 3 Article 209 of the Criminal Code of Ukraine.

Investigators seized highly liquid assets belonging to individual totaling more than 92.0 million UAH in order to prevent budget losses by fastest repayment of damages to the state.

According to the criminal investigation results and cooperation of the General Prosecutor’s Office of Ukraine, Main Investigation Department of the National Police of Ukraine, Security Service of Ukraine in Sumy region, Main Directorate of the STS in Sumy region, an individual was suspected of committing a crime under Part 3 Article 212 and Part 3 Article 209 of the Criminal Code of Ukraine.

The suspect is currently wanted, and his operations, which may be related to money laundering, are being further checked. Investigation is ongoing.

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