Expert warns new sanctions against Russia may drive wedge between US and EUWorld July 28, 8:25
US Senate passes bill toughening anti-Russia sanctionsWorld July 28, 3:10
Launch of Sentinel-5p satellites scheduled for fallScience & Space July 28, 1:01
Russia, China round up joint naval exercise in Baltic SeaMilitary & Defense July 27, 21:27
Chechen leader says he is ready to quit his job to protect al-Aqsa Mosque in JerusalemSociety & Culture July 27, 21:07
Russian tennis star Sharapova granted wildcard for WTA tournament in CincinnatiSport July 27, 20:11
Russia invites Baltic partners to attend naval review in St. PetersburgMilitary & Defense July 27, 19:38
Russia’s new ambassador to Turkey presents his credentials to ErdoganRussian Politics & Diplomacy July 27, 19:03
Deadly wildfires in southern EuropeWorld July 27, 18:20
MOSCOW, December 17. /ITAR-TASS/. Russia’s Finance Ministry is drafting bills to de-offshore the Russian economy, director of the ministry’s tax and customs policy department Igor Trunin told a roundtable meeting of the political movement All-Russian People’s Front on Tuesday.
In his annual state-of-the-nation address President Vladimir Putin proposed that Russian offshore-registered companies should be taxed under Russian tax rules. He said such companies should be banned from getting Russia’s government contracts and state loan guarantees from Vnesheconombank.
“The first bill, which is on the way, concerns ratification of the Convention on Mutual Administrative Assistance in Tax Matters,” he said.
Signatories to the convention developed by the Organisation for Economic Cooperation and Development are 64 states, including offshore jurisdictions. “In the event of ratifying the convention we will formally get a provision allowing us to request tax information from other countries,” he said.
“Other bills are the result of the president’s address,” Trunin said. “They concern tax residence of corporations, controlled foreign companies and beneficiary recipients of income.