The Ministry of Finance proposed a list of zones with preferential tax treatment

A draft order of the Ministry of Finance on the approval of a special list of states and territories with a preferential tax regime for taxation and (or) which do not provide for the disclosure and provision of information in financial transactions (offshore zones) has been published on the Federal Portal of Draft Normative Legal Acts.

This list includes 40 countries and territories, including Monaco, UAE, Liechtenstein, certain administrative units of the United Kingdom and others. This order shall come into force on January 1, 2024 and will apply for tax periods 2024-2026.

Earlier, the President of the Russian Federation at a meeting with business gave a number of instructions related to taxation and offshore. In particular, it was about the possibility of introducing a differentiated profit tax rate and improving the transfer of companies to the Russian jurisdiction.

At the end of September 2023, VK Holding completed the change of jurisdiction from the British Virgin Islands to a special district on Oktyabrsky Island in the Kaliningrad Region. And at the end of December 2023, Yandex completed its registration process in the Russian offshore.