Former MP Novinsky is Suspected of Large-Scale Tax Evasion Exceeding 4 Billion Hryvnias
The attention of Ukrainian law enforcement is once again focused on a former political figure — Vadym Novinsky, who previously represented the interests of the Verkhovna Rada in several convocations. According to information provided by sources within the State Bureau of Investigation (SBI) and the Security Service of Ukraine (SBU), he has been charged with serious financial violations, specifically — evasion of taxes amounting to over 4 billion hryvnias. This is one of the largest cases of tax evasion in recent years and could have significant repercussions for the reputation of the former deputy. According to official data, the investigation has not yet publicly named the suspect, but sources close to law enforcement agencies clearly point to Vadym Novinsky. He is accused of that after acquiring Ukrainian citizenship in 2012, he continued his business activities and failed to declare foreign income, which violated current legislation. As a result, he evaded paying taxes, including personal income tax, totaling more than 4.3 billion hryvnias. According to the investigation, Novinsky received substantial investment profits exceeding 25 billion hryvnias, as well as income from the sale of shares in foreign companies. Specifically, it involved transactions related to the sale of shares in foreign enterprises operating in the Republic of Cyprus. These financial operations, according to investigators, were conducted outside of legal control and not reflected in the Ukrainian resident’s tax reporting. Thus, the violations led to significant losses to Ukraine’s state budget. Law enforcement estimates suggest that substantial funds were not remitted to the state treasury, complicating the country’s financial stability and undermining trust in the tax system. The criminal proceedings are currently ongoing, and investigators are conducting necessary investigative actions to establish all circumstances of the case, including the scope of assets and sources of income used for tax evasion. Recall that cases involving large sums are characteristic of the modern Ukrainian tax system and serve as indicators of its fight against high-level financial crimes. The Verkhovna Rada and the government emphasize the need to strengthen anti-corruption measures and combat financial crimes, especially in the context of hidden international schemes for tax optimization. Currently, investigators are working in coordination to establish all details of this high-profile case, and the public awaits official decisions and possible court proceedings. It is important to note that such cases have high political and social resonance due to the significant level of corruption and unfair distribution of financial resources in the country.