REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

 FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

 PUBLISHER

Liburkina L. M.

 SITE SECTIONS

Main page

Editorial staff

Editorial policy

Annotated catalogue (2011)

Annotated catalogue (2012)

Annotated catalogue (2013)

Annotated catalogue (2014)

Annotated catalogue (2015)

Annotated catalogue (2016)

Annotated catalogue (2017)

Annotated catalogue (2018)

Annotated catalogue (2019)

Annotated catalogue (2020)

Annotated catalogue (2021)

Annotated catalogue (2022)

Annotated catalogue (2023)

Annotated catalogue (2024)

Thematic sections of the journal

Proceedings of scientific conferences

Shadowing the Financial Flows in the Insurance Market: the Main Schemes and Instruments for Implementation
Zhabynets O. Y.

Zhabynets, Olha Yo. (2020) “Shadowing the Financial Flows in the Insurance Market: the Main Schemes and Instruments for Implementation.” Business Inform 5:356–363.
https://doi.org/10.32983/2222-4459-2020-5-356-363

Section: Finance, Money Circulation and Credit

UDC 368.1:336.02 (477)

Abstract:
The article analyzes the main schemes of shadowing the financial flows in the insurance market of Ukraine. In particular, the main indicators of the development of the insurance and reinsurance market of Ukraine for the period 2013-2018 are analyzed; the insurance market is evaluated by the insurant categories and the main types of insurance; peculiarities of the insurance companies’ operations with securities in terms of assets formation and balance transactions involving bills of exchange, as well as the main negative effects of shadowing the financial flows in the insurance market. It is proved that even in difficult economic-political conditions, which are usually accompanied by insolvency of most business structures and the population, insurance companies have not lost their positions and even demonstrated an increase in the main indicators of development, which indicates the involvement of domestic insurers in the implementation of so-called pseudo-insurance operations, which are most often carried out in such crisis periods. It is determined the primary servicing the interests of legal entities by insurers and the predominance of the types of property insurance among the insurance services sold, including financial risks insurance, which are actively used as tax optimization instruments for enterprises in the real sector of the economy. It is proved that insurance companies use domestic incoming reinsurance to reduce their tax liabilities, as well as so-called «technical» securities, including bills of exchange, to withdraw money outside the country or cash them out.

Keywords: shadowing the financial flows, insurance market, reinsurance market, shadow financial schemes, pseudo-insurance operations, optimization of tax liabilities.

Fig.: 5. Tabl.: 4. Bibl.: 8.

Zhabynets Olha Yo. – Candidate of Sciences (Economics), Associate Professor, Senior Research Fellow, Department of Spatial Development, Institute of Regional Research named after M. I. Dolishniy of the NAS of Ukraine (4 Kozelnytska Str., Lvіv, 79026, Ukraine)
Email: [email protected]

List of references in article

“Riven tinyovoi ekonomiky v Ukraini u 2018 rotsi nainyzhchyi z 2009 roku - Minekonomrozvytku“ [The Level of the Shadow Economy in Ukraine in 2018 is the Lowest Since 2009 - the Ministry of Economic Development]. https://www.kmu.gov.ua/news/riven-tinovoyi-ekonomiki-v-ukrayini-u-2018-roci-najnizhchij-z-2009-roku-minekonomrozvitku
Natskomfinposluh Ukrainy. http://www.nfp.gov.ua.
Alyoshkina, N. “Vytraty na strakhuvannia maina“ [Property Insurance Costs]. Podatky i bukhoblik. 2016. https://i.factor.ua/ukr/journals/nibu/2016/september/issue-74/article-21366.html
“HPU pidozriuie «Rivneazot» v uchasti u zlochynnii skhemi z nesplaty podatkiv“ [The GPU Suspects Rivneazot of Participating in a Criminal Tax Evasion Scheme]. http://charivne.info/news/32547-hpu-pidozryuye-rivneazot-v-uchasti-u-
[Legal Act of Ukraine] (2010). https://zakon.rada.gov.ua/laws/show/2755-17#Text
“Tinyova ekonomika v Ukraini: masshtaby ta napriamy podolannia: analitychna dopovid“ [Shadow Economy in Ukraine: Scales and Directions of Overcoming: Analytical Report]. https://niss.gov.ua/sites/default/files/2012-03/TEN.indd-532d7.pdf
Zhabynets, O. I. “Perestrakhuvannia yak odyn z indykatoriv finansovoi bezpeky rynku strakhovykh posluh“ [Reinsurance as One of Indicators of Insurance Market Financial Security]. Naukovyi visnyk Natsionalnoho lisotekhnichnoho universytetu Ukrainy, no. 19.12 (2009): 187-192.
Zhabynets, O. I. “Formuvannia investytsiinykh resursiv strakhovykh kompanii ta pytannia bezpeky yikh investytsiinoi diialnosti“ [The Formation of Investment Resources of Insurance Companies and Questions of the Security of Their Investment Activity]. Naukovyi visnyk Natsionalnoho lisotekhnichnoho universytetu Ukrainy. 2012. https://nv.nltu.edu.ua/Archive/2012/22_12/178_Zab.pdf

 FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

 INFORMATION

The Plan of Scientific Conferences

 OUR PARTNERS

Journal «The Problems of Economy»