Companies associated with Medvedchuk and other sanctioned individuals are in the White Business Club
21 January 11:55
According to the State Tax Service of Ukraine, the “White Business Club” includes companies that have ties to sanctioned persons and do not meet the standards, and 24 companies on the list had owners from Russia at the beginning of the full-scale campaign. This was reported by Komersant ukrainskyi with reference to Opendatabot.
7,997 companies were included in the White Business Club.
“These are companies that must demonstrate openness, pay taxes in good faith, submit reports and have no ties to Russia. However, at the time of the full-scale invasion, 24 companies in the club had Russian owners. Currently, there is no official Russian trace in any of these businesses,” the statement said.
It should be reminded that since the beginning of the full-scale war, Ukraine has had a moratorium on changing registration data in companies with Russian owners, except for a few cases clearly defined by law.
Opendatabot analyzed the companies included in the trusted list of the State Tax Service and found representatives among them who are related to the sanctioned persons through joint business.
“For example, two companies belong to the Kozak brothers’ group, whose owners are connected to Viktor Medvedchuk‘s group. The list also includes businesses that have ties to the Alef Corporation, owned by Vadym Iermolaiev, who is sanctioned, and Burisma Group, whose owner is in the Corruption Register, etc.”, the OpenDataBot noted.
After the list was published, sanctions were imposed on Yuriy Boyko, as two businesses from his group are also among the white businesses.
Revenue of companies from the White Business Club
42% of companies from the White Business Club earn between 10 and 100 million hryvnias a year, which is 3.3 thousand businesses. Another 177 companies can boast revenues of over UAH 1 billion (2.2%).
Another 208 members of the Club did not submit reports to the State Statistics Service for 2023, so it is currently impossible to assess their financial performance. Revenue of companies from the White Business Club as of December 20, 2024Under UAH 10 million

Up to UAH 10 million | 2 987 | 37.4% |
---|---|---|
From UAH 10 to 100 million | 3 354 | 41.9% |
From 100 million to 1 billion | 1 271 | 15.9% |
From 1 billion | 177 | 2.2% |
Did not submit financial statements | 208 | 2.6% |
Where the White Business Club companies are most concentrated
Almost a quarter of white business representatives are concentrated in the capital – 1,927 companies.
Another 10% or 794 companies are registered in Dnipropetrovska oblast. Kyiv region closes the top three with 594 companies or 7%.

What are the areas of activity of companies from the White Business Club?
16% or 1,275 companies on the white list operate in the wholesale trade sector. Agriculture is in second place with 1,120 businesses (14%).
Real estate involves 675 companies (8.4%), and maintenance of buildings and grounds – 359 companies (4.5%). The healthcare industry rounds out the top five with 312 companies (3.9%).

Wholesale trade | 1 275 | 15.9% |
---|---|---|
Agriculture | 1 120 | 14.0% |
Real estate | 675 | 8.4% |
Maintenance of buildings and grounds | 359 | 4.5% |
Healthcare services | 312 | 3.9% |
Construction | 266 | 3.3% |
Retail trade | 265 | 3.3% |
Specialized construction works | 249 | 3.1% |
Law and accounting | 202 | 2.5% |
Other | 3 274 | 40.9% |
What is known about the “White Business Club”
As a reminder, the President of Ukraine Volodymyr Zelenskyy signed the draft law No. 11084 on the establishment of the “White Business Club” – a list of taxpayers with a high level of voluntary compliance with tax legislation.
The law is aimed at improving the interaction between tax authorities and honest taxpayers, providing the latter with certain benefits in exchange for a high level of tax discipline.
It clarifies the concept of “tax risk” and introduces a new concept of “compliance” (tax risk management).
The Law defines the criteria for recognizing a taxpayer as a bona fide taxpayer, including no or minimal tax debt, timely submission of reports, compliance with industry tax payment rates, and payment of salaries not lower than the industry average.
Taxpayers included in the list will receive the following benefits:
- upon request, the taxpayer has the right to receive information about tax information available to the controlling authority that may indicate tax risks in the taxpayer’s activities, as well as advice on how to eliminate such risks within five days
- moratorium on documentary audits;
- reduction of the timeframe for desk and documentary audits for the purposes of budgetary reimbursement – five calendar days;
- individual tax consultations within five calendar days;
- the taxpayer is assigned a compliance manager with whom the taxpayer will be able to interact, in particular by means of remote communication, including videoconferencing;
The list of bona fide taxpayers is compiled on a quarterly basis, and taxpayers are notified of their inclusion in this list. These features will be in effect for the period of martial law and until the end of the year, when it will be canceled.
Read about the business reaction to the law here.