9.12.2015. United Kingdom, Austria, Switzerland, Israel added to the black list in Russia

Company News

The Federal Tax Service (FTS) of the Russian Federation, as part of the deoffshorization process has prepared a list of the countries and territories that do not comply with the exchange of information for tax purposes with Russia. This list includes 119 countries and 18 territories.

The document stimulates the tax payments in the amounts of 13% and 20% for physical persons and legal entities, respectively, if the foreign structure of Russian company works in the listed company, accumulating transferred money from Russia as the passive income.

Aside the traditional offshore jurisdictions, you may also find countries with robust tax systems in this list, like Austria, United Kingdom, Switzerland and Israel. In addition to the above mentioned, the list has been added with: Barbados, Guatemala, Jordan, Kenya, Livan, Monaco, Tonga, Uruguay and Jamaica. While The Antilles and Madeira – have been removed from this list.

If the relevant order would be adopted, then it would be entered in the force on 1 January 2016. This list will be updated annually.