There are no frozen personal bank accounts or other assets in Switzerland in the name of Viktor Yanukovych
You can download this press release as a PDF in English or Russian. The Swiss Federal Councils Decision of 13 December 2019 to extend for one year its freeze on the assets of President Yanukovych and his entourage, and the press release it has published on this occasion does not assert that President Yanukovych had or has any assets in Switzerland. On the contrary, as previously clarified in a letter dated 1 March 2017 (issued in respect of the Swiss Federal Councils similar decision and an announcement made in 2016), the Swiss authorities confirmed that:
there are no bank accounts or other assets in Switzerland held in the name of President Yanukovych that they have frozen (as President Yanukovych himself has always contended); and
the asset freezes imposed by Switzerland concern other persons (i.e. not President Yanukovych) listed in the Appendix to the Ordinance on the Freezing of Assets in Connection with Ukraine.
We draw attention again to our earlier Press Releases dated 3 March 2017 and 22 December 2017 dealing, respectively, with the 2016 Decision and announcement and 2017 Decision. The Swiss Federal Council still do not clearly state who the CHF 70 million referred to in their announcements belongs to, but, that said, the Swiss Federal Council has previously, in its 1 March 2017 letter, officially acknowledged that it does not belong to President Yanukovych. Indeed, the Swiss Federal Council, in its 13 December 2019 announcement, observes that Court rulings on the illicit origin of the assets have yet to be rendered in Ukraine. In the most recent proceedings before the General Court of the European Union, previously imposed sanctions against President Yanukovych, in place from March 2016-March 2019, were annulled. ENDS Notes to editors Joseph Hage Aaronson LLP is a law firm based in London representing President Yanukovych and Mr Oleksandr Viktorovych Yanukovych: www.jha.com Enquiries to Joseph Hage Aaronson LLP, Tel.: +44 (0)20 7851 8888.
A yellow card for footballers and their agents……let’s bring in another match official
There has been long running tension between HMRC and the way that footballers and their agents are remunerated. As the Professional Footballers’ Association wade into the debate, Helen McGhee discusses the problems arising from agents’ fees and image rights.
Keeping Your Confidences
Helen McGhee considers the legal rights which allow individuals and companies to resist the disclosure of confidential evidence, and the limitations surrounding legal privilege.
The new powers tackling promoters of avoidance schemes
Under new proposals in draft Finance Bill 2021, HMRC will have wider information powers and be able to impose tougher sanctions on those who continue to promote or enable tax avoidance schemes. Whilst a robust approach to tackle unacceptable behaviour by a minority of promoters is entirely welcome, the new rules would arguably impose unnecessary administrative burdens on those operating within the law.
Draft Finance Bill 2020–21—promoters and enablers of tax avoidance schemes
Helen McGhee, senior associate at Joseph Hage Aaronson LLP, shares her insights on the Draft Finance Bill 2020–21 and its impact on promoters and enablers of tax avoidance schemes.
Apple and Ireland Win €13bn State Aid Appeal
The General Court of the European Union has today annulled the Commission’s decision regarding two Irish tax rulings in favour of Apple. The Commission had considered that the two rulings constituted State Aid, granting Apple €13bn in unlawful tax advantages.