End of anonymous foreign accounts

In 2025, the head of the Verkhovna Rada’s Finance Committee, Danylo Hetmantsev, stated that the era of anonymous foreign accounts and large-scale hiding of offshore income for Ukrainians is coming to an end. This results from four main factors: Ukraine’s accession to global automatic financial information exchange systems (CRS/OECD CRS, FATCA), the adoption of special legislation on transparency for digital assets and cryptocurrencies, the creation of a unified account register, and the gradual implementation of EU tax directives for control over the income of individuals and companies.

Global trend: automatic exchange of information
Currently, 109 countries — including all EU states, the UK, Switzerland, Canada, and the USA — have implemented CRS, which requires banks, brokers, and other financial intermediaries to automatically transfer data to domestic tax authorities about accounts, savings, investments, income (dividends, royalties, rental), and the flow of money for non-resident clients.
From 2026, Ukraine will launch CRS involving the NBU and the State Tax Service. Ukrainian banks are already obliged to identify tax residents, ownership structures, and beneficial owners, and, upon request, to disclose information to foreign tax authorities.

Cryptocurrency and digital assets: Detinization
2025 saw breakthrough legislation on the taxation and verification of cryptocurrency. Draft Law No. 10225-d (“On Virtual Assets”) set market rules — identifying the owner, granting NAPC and the Ministry of Finance the right to check the origin of cryptoassets, recording blockchain transactions, monitoring the source of funds.
Taxation mechanisms were developed: rates of 5–18% for individuals and businesses are expected, depending on activity. NAPC already has the tools to verify blockchain operations and cooperates with cyber police and international auditors.

New registry of payment instruments — combating “drops”
Another step towards financial transparency was the appearance of Draft Law No. 14161, providing for a state register of people who provide their bank details for use in shadow schemes. This will prevent mass use of “drops” for anonymous money transfers or cash-outs and reinforce fiscal control over cash flows, gambling, and online platforms.

DAC-7: EU experience for digital platforms
Ukraine is implementing the DAC-7 directive, providing for the automatic exchange of information on user income from marketplaces (OLX, Amazon, Airbnb, Upwork, etc.) between EU, US and partner tax authorities. All online platforms must collect and share data on Ukrainian residents — meaning all income from freelancing, online sales, rentals, and consulting will no longer remain “hidden” even if paid to foreign accounts.

Enhanced cooperation with global tax authorities
Ukrainian tax and law enforcement authorities are already receiving data from partners (including the USA, Germany, Poland, UK) on bank accounts, real estate, and financial activity of citizens hiding income or failing to declare it at home.
Expect an expansion in information exchange about:

• transactions in financial instruments, stocks, dividends;
• online accounts on PayPal, Stripe, Wise, crypto exchanges;
• foreign property and assets.

New risks for taxpayers

• The likelihood of unannounced tax audits and seizure of foreign accounts is increasing.
• Returning undeclared income to Ukraine as “debt” or “gift” will no longer protect anyone.
• Deliberate concealment is subject to administrative and even criminal liability.
• Officially declared currency and assets will remain under scrutiny even after amnesty or currency liberalization.

How business and citizens should act

1. Officially declare all foreign accounts and income received outside Ukraine, even if previously not taxable.
2. Carefully record sources of funds from freelancing, online earnings, or marketplace transfers.
3. Do not ignore tax requirements — promptly report foreign assets and accounts.
4. Consult with tax and financial advisors to avoid double taxation and fines under automatic exchange.
5. Monitor news about CRS/DAC7/AML implementation into Ukrainian tax law.

Conclusion
The possibility of concealing income or assets abroad is rapidly disappearing, even for small freelancers, crypto holders, investors, and entrepreneurs. The world is becoming increasingly transparent, and now is the last chance to go legal, avoid criminal or administrative penalties, and build a clean financial history. Ukraine not only follows global detinization trends but also seeks its own innovative solutions for combating tax evasion, ensuring a fair tax burden and secure state finances.
Author: Igor Yasko, Managing Partner of the Law Firm “WINNER”, PhD in Law.
If you have questions regarding tax audits, foreign asset declarations, currency control, digital platforms, transfer pricing, working with foreign banks, or avoiding double taxation — contact the legal and tax team at WINNER Law Firm. Professional advice will help you choose the right legalization strategy, efficiently organize your cash flows, and protect yourself from unjustified fines, account blocks, or criminal risks even under new global conditions.