The National Transport University Bulletin

Abstract

The article examines the peculiarities of using offshore services in the world economy, identifies their problems, risks, advantages and prospects. The object of research is the global practice of offshore operations. The purpose of the work is to analyze the peculiarities of the use of offshore by the world economy as financial structures with new tax opportunities for business in the conditions of modern transformational processes on the way to building an updated system of international financial relations and the prospects of integration into such a system of the Ukrainian economy. Research methods – generalization, comparison, analysis and synthesis, systematic approach. The current state of the world economy is accompanied by the gradual development of offshore structures that actively function on the basis of the application of special tax, currency, investment and other financial and administrative mechanisms. Global practice shows that offshores are mainly used to minimize tax payments or carry out prohibited financial transactions. The opportunities provided by offshore zones are wide: firstly, it is confidentiality, when the information about the beneficiaries is hidden and the accounts that are opened are anonymous; secondly, the application of the transfer pricing mechanism, the purpose of which is to establish minimum prices for exported goods and maximum prices for imported goods; thirdly, carrying out financial transactions that are prohibited in the country of origin. Offshores play a significant role in the processes of international movement of capital, forming, mainly thanks to offshore financial centers, appropriate financial flows that contribute to the capitalization of the resources of individual countries. Conclusions – taking into account the world practice, it should be noted that the inclusion of Ukraine in offshore can be accompanied by the manifestation of shortcomings, therefore, the effective functioning of offshore financial centers can be expedient only under the conditions when it becomes legally considered as an object of international and local regulation, which is important to carry out by each country, taking into account the prospects of international supervision of offshore activities in the context of further global development

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