Bitcoin and Cryptocurrency Tax Evasion in Ukraine
A prominent Ukrainian blogger has been charged with evading over $5 million in taxes through crypto transactions related to online affiliate marketing. The Economic Security Bureau of Ukraine uncovered a sophisticated scheme where the blogger concealed substantial income from various industries using crypto transactions.
Complex Operation to Hide Income from Online Industries
The blogger, known for involvement in web traffic arbitration and affiliate marketing, orchestrated a complex operation to conceal income from industries like gambling, dating, betting, and health products. The financial intelligence agency revealed that the blogger failed to register a commercial entity, leading to unpaid taxes amounting to $5.1 million.
Unreported Income and Seizure of Assets
The investigation uncovered undeclared income exceeding ₴1 billion, with none reported to tax authorities between 2020 and 2023. The blogger, along with several IT specialists, faces charges for large-scale tax evasion and money laundering. Detectives seized assets like luxury vehicles, apartments, and properties in Kyiv as part of the ongoing investigation.
