Lesya Karnaukh: State Tax Service, State Financial Monitoring Service and Economic Security Bureau will improve information exchange mechanism

State Tax Service, State Financial Monitoring Service and Economic Security Bureau will improve information exchange mechanism. This is what will allow us to detect economic crimes more quickly and efficiently. This was informed by acting Head of the State Tax Service Lesya Karnaukh on the Facebook page.

Details of creating such mechanism were discussed during a joint meeting between acting Head of the State Tax Service Lesya Karnaukh, Head of the State Financial Monitoring Service Filip Pronin and acting Director of the Economic Security Bureau Serhii Perkhun. Everything is strictly within the legislative framework and powers of each of the bodies.

One of the questions – cross-border operations. 

State Tax Service’s systems do not have complete information regarding a certain part of transactions with non-residents, including transactions between entities with signs of hidden connections. To see the full picture, there is a need for data that allows identifying financial flows outside of formal reports. Particularly, from the Economic Security Bureau regarding the cross-border schemes for minimizing tax liabilities, from the State Financial Monitoring Service – regarding transactions between residents of Ukraine and non-resident counterparties.

Another important question – “drops”.

“Recently, this tax evasion scheme has been gaining more and more popularity. Therefore, we will continue joint systematic work, including with the National Bank of Ukraine, to identify and stop schemes related to the use of “drops”” – stated acting Head of the State Tax Service.  

Significant volumes of the non-cash transfers between individuals are made through the electronic payment instruments (P2P payments). Transactions are not declared and budget revenues are reduced accordingly.  

“State Tax Service is also working on the use of "drop schemes" in illegal transactions. We have already discovered facts of their use to legalize funds from the drug sales and organize illegal casinos” – noted Lesya Karnauk. 

Implementation of measures against sanctioned entities, as well as use of the CRS information received by the State Tax Service were particularly discussed.