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 "I did it for other reasons than tax evasion," - Poroshenko explained his Panamanian offshore company objectives

President of Ukraine Petro Poroshenko explained the purpose for the creation of offshore companies exposed by the foreign media.

Censor.NET reports citing 112 Ukraine TV channel.

Poroshenko said that he was forced to resort to the creation of offshore companies to transfer the management of his business to the investor bank who refused to manage Ukrainian assets.

"The offshore accounts are usually secretly used to minimize payment of taxes. In this case the situation was contrary. It was a very transparent process and a common practice.

"I did it for other reasons than tax evasion. This offshore company has not received a single penny from Ukraine. It was a transparent public action to separate business from Ukrainian president to prevent any political influence," Poroshenko said.

Read more: Poroshenko's offshore scandal offers no major wrongdoing, but raises number of important questions, - Washington Post
 
 
 
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