Zelensky's majority in parliament reportedly depends on Ukraine-Israeli-Cyprus citizen oligarch, Kolomoisky's political party's continued support...
Volodymyr Zelenskiy has railed against politicians hiding wealth offshore but failed to disclose links to BVI firm
October 3, 2021
"..The Pandora papers
, leaked to the International Consortium of Investigative Journalists (ICIJ) and shared with the Guardian as part of a global investigation however, suggest Zelenskiy is rather similar to his predecessors.
The leaked documents suggest he had – or has – a previously undisclosed stake in an offshore company, which he appears to have secretly transferred to a friend weeks before winning the presidential vote.
Zelenskiy has not commented on the claim despite extensive attempts by the Guardian and its media partners to reach him. His spokesperson ..messaged: “Won’t be an answer.”
The files reveal Zelenskiy participated in a sprawling network of offshore companies, co-owned with his longtime friends and TV business partners. They include Serhiy Shefir, who produced Zelensky’s hit shows, and Shefir’s older brother, Borys, who wrote the scripts. Another member of the consortium is Ivan Bakanov, a childhood friend. Bakanov was general director of Zelenskiy’s production studio, Kvartal 95
The constant rumors of war have pulled the rug out from under the Ukrainian economy, with nearly $1 billion in FDI leaving. Zelensky is President. The blame will fall on his shoulders.
February 16, 2022
"He must build constructive relations with states that are ready to support him; and countries that want to back Ukraine. Most of all, he needs to develop and approve pro-growth economic policies. The exact opposite is happening. While this is not as “romantic” as soldiers moving into battle, Ukraine’s current tax policy and pressure on businesses are considered the reason for weak investment and falling support for Zelensky among the top business leaders and the middle class. No investment plus no jobs equals no support.
Frustration mounts even more because there is a perception in Ukraine that tax increases don’t apply to everyone.
Zelensky’s biggest critics will point out that one of his top backers, billionaire Igor Kolomoisky, under U.S. sanctions, has enjoyed support from Parliament to avoid higher taxes on his mining operations.
The State Department has alleged that Kolomoisky, long believed to be a key supporter to Zelensky’s campaign in 2019, laundered money from a Ukrainian bank into dollar accounts here and elsewhere, The Washington Post reported
in March. Zelensky’s relationship with Kolomoisky media company 1+1 was the subject of the Panama Papers
investigations of the offshore accounts of the rich and powerful. In addition to the tax hikes, Ukraine’s Tax Service has gone after international companies. Zelensky deeply distrusts the Ukrainian establishment ... The list of Zelensky’s targets is long. It includes multinational Swedish medical laboratory firm Synevo; it has been targeted
by Ukraine’s IRS equivalent for allegedly failing to provide documents confirming the company's expenses.
Global steel giant ArcelorMittal had its bank accounts in Ukraine frozen
over tax evasion claims
this January. They called the investigation “political pressure.” “The company considers these charges baseless and a clear example of political pressure on a major foreign investor. There is no current tax related civil proceeding against ArcelorMittal and no legal grounds to freeze the company’s accounts,” the steel manufacturer said last month.
Arcelor is the largest foreign investor in Ukraine. .. Major corporations can handle the tax load. They also have legal avenues to avoid taxation. Small business owners in Ukraine do not. .."