The applicable laws of the Russian Federation have profoundly been amended lately, the amendments covering the tax connected information exchange with other countries:
In total, this list involves 107 states and 18 territories.
In particular, the Russian agency lacks the exchange of tax connected information with colleagues from such countries as: Angola; Andorra; Afghanistan; Bahamas; Bolivia; Bosnia and Herzegovina; Dominican Republic; United Arab Emirates; Tunisia and others.
It is also unlikely to obtain financial information about Russian citizens being residents of the following offshore jurisdictions: the Virgin Islands; Gibraltar; Guam; Macau; separate administrative units of the United Kingdom of Great Britain and Northern Ireland: the Isle of Man and the Channel Islands (Guernsey, Jersey, Sark, Alderney) and others
The amendments came into effect on November 21, 2017.
Beginning from 2018, Hong Kong is to be removed from the list of offshore zones of the Russian Federation.
The delisting of Hong Kong from is connected with the signing of an intergovernmental agreement with Russia on avoiding double taxation and on preventing tax evasion.
The Acsour Lawyers are ready to advise you on the issue of automatic exchange of tax information between countries