Russian Federal Tax Service Excludes 9 Countries from The Offshore Blacklist

Important notice: Law&Trust no longer work in Russia. Transfer of operational control over Law&Trust in Russia to local management and the formation of the LegalCraft brand was started in 2022 and came into effect in October 2024.
 

The Federal Tax Service of Russia (FTS) has excluded from the list of countries and territories, which do not provide information sharing for tax purposes with Russia, the following jurisdictions: Belize, Brazil, Liechtenstein, Monaco, the United Arab Emirates, Seychelles, Uganda, Saint Kitts and Nevis, as well as two British offshore territories, namely the Isle of Man and Guernsey. These jurisdictions are now ready to exchange or are already exchanging information with the Federal Tax Service of Russia. According to the Order of the Federal Tax Service, there are 100 countries and territories remaining in the blacklist.

The document was signed on December 4, 2018 and registered by the Ministry of Justice on February 7, 2019. A copy of the relevant Order of the Service is made public on the web-portal of legal information.

According to the Tax Code of the Russian Federation, the profit of a controlled foreign company (CFC) is exempt from tax if its permanent location is a state (territory) with which Russia concluded an international tax treaty and which is therefore not included in the list approved by the FTS.

We regularly monitor innovations in key jurisdictions and inform you about the most important things. Lawyers of Law&Trust International will always find the best solution for your business anywhere in the world, and will help you, among other things, with offshore companies formation.