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Poroshenko: Offshore vehicle was no tax avoidance structure
Journal Staff Report

TOKYO, April 6 – The main purpose of the establishment of Prime Asset Partners Limited in the British Virgin Islands was the creation of a special purpose vehicle (SPV) for the transfer of the Roshen Group under the management of the Rothschild bank and was not for minimizing tax payments like in the cases of other participants of the 'Panama Papers,' President Petro Poroshenko said.

Speaking at a press conference in Tokyo on Wednesday, Poroshenko said that he authorized the creation of the offshore to minimize taxes and that this was done openly. The company has not received a single penny from Ukraine, he said.




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