The Ministry of Finance of the Russian Federation has more than doubled the list of states and territories that provide a preferential tax regime for taxation and (or) do not provide for the disclosure and provision of information when conducting financial transactions (offshore zones), follows from the order of the ministry, published on the official portal of legal information.
Currently, there are 40 offshore zones on the list. However, from July 1, their number will increase to 91.
The updated list includes the EU countries, Great Britain, Switzerland, the USA, Canada, Japan, South Korea and a number of others.
Previously, the EU included Russia in an updated list of jurisdictions not cooperating with the EU for tax purposes. Claims against Moscow were connected with the regime of special administrative regions on the Russky and Oktyabrsky islands. In addition, the Council of the EU noted that the dialogue with the Russian side on tax legislation “reached a dead end” against the backdrop of the situation in Ukraine.
The Ministry of Finance of the Russian Federation clarified that with the inclusion of Russia in the offshore list, the EU member countries will be able to apply administrative and legal measures to it.
Source: Rosbalt
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