Practices Withdrawal of Funds in Offshore Jurisdictions

Abstract

The article analyzes the vicious practice of removing money from the economy of the states - members of the Eurasian Economic Union in offshore jurisdictions. In particular, it reveals the mechanism of withdrawal of capital and tax evasion, not only on the basis of underreporting and/or overstatement of the customs value of goods, but also through the use of embedded in the Common Customs Tariff of the Eurasian Economic Union, the principle of differentiation of the rates of import customs duties. Special attention is paid to expose methods removal of funds by manipulating the terms of commercial deliveries, registered in Incoterms 2010. The importance attached to the study of the practice of illegal capital outflow through the use of documentary letter of credit as a form of payment for the supply of goods on the Eurasian single customs territory, as well as partial or 100% advance payment on account of an offshore company for foreign trade transaction, which will not be executed in advance. The above article analysis will allow the competent authorities to develop a set of measures in the legalization of proceeds from crime.