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Government may face necessary refusal of double-taxation agreements with offshore zones

December 12, 2013, 16:21 UTC+3 (Adds details
Head of Rosneft Igor Sechin confirmed that certain deals involve some off-shore companies
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(Adds details, December 12. /ITAR-TASS/. Head of Rosneft Igor Sechin says “the government is bound to face the situation, where it will have to refuse agreements on avoiding double taxation with offshore zones.”

He expressed the idea as he answered questions from the media following the president’s state-of-the-nation address on Thursday.

Reporters asked Sechin about possible timing of the change. He chose to answer by a question: “Does it take long to inform on the decision to terminate an agreement on avoiding double taxation?”

Sechin stressed Rosneft had not worked in offshore zones. However, he confirmed “certain deals involve some off-shore companies.”

He said Rosneft, a company registered in the territory of the Russian Federation, had been complying with the Russian legislation and working with offshore companies was not a priority for the company.

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