PROBLEMS OF FUNCTIONING OF OFFSHORE ZONES AND IMPLEMENTATION OF OFFSHORE JURISDICTIONS IN THE TERRITORY OF UKRAINE
DOI:
https://doi.org/10.34132/pard2025.30.02Keywords:
offshore zones, offshore jurisdictions, offshore banks, de-offshorization, public policy, public administration, sustainable development, national security, financial security.Abstract
The article carries out a comprehensive study of the problems of functioning of offshore zones in the world and national economy, as well as the opportunities and threats associated with the introduction of offshore jurisdictions in the territory of Ukraine. The economic essence of the concepts of «offshore zone» and «offshore jurisdiction» is revealed, their key features are identified, and the reasons that encourage enterprises and individuals to use offshore schemes are analyzed. It is noted that, on the one hand, offshore centers play the role of a tool for optimizing international business, and on the other hand, they become a factor in tax evasion, capital outflow, and a decrease in the level of financial security of states. The paper examines in detail the international experience of regulating the activities of offshore zones, in particular the de-offshorization policy implemented by developed countries within the framework of cooperation with the Organization for Economic Cooperation and Development (OECD) and the European Union. The importance of Ukraine's participation in global initiatives aimed at ensuring the transparency of tax systems, automatic exchange of tax information and the introduction of financial monitoring standards is emphasized. The article emphasizes the need to strengthen the role of financial regulators, improve the tax administration system and create a favorable business environment that would reduce the motivation to use offshore jurisdictions. The article formulates a number of proposals to increase the effectiveness of public policy in the field of de-offshorization, in particular: strengthening international cooperation in the field of exchange of financial information, harmonization of tax legislation with European standards, creation of incentives for capital repatriation and development of domestic investment instruments. The implementation of the proposed measures will not only strengthen the financial stability of the state and sustainable development, but also ensure the formation of a competitive, transparent and socially responsible business environment in Ukraine.
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