The EU left Russia on the blacklist of tax jurisdictions
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The European Union left Russia on the blacklist of countries that do not cooperate in the field of taxation, should from a document published in the Official Journal of the EU.
“The Russian Federation has a harmful preferential tax regime (International Holding Companies), and this problem has not been solved,” the document says.
Russia hit blacklisted by the EU in February 2023. The EU Council then explained the decision by changes in Russian legislation regarding the regulation of special administrative regions (SAR, the so-called Russian offshore) on the island. Russian in Vladivostok and about. Oktyabrsky in Kaliningrad.
The list is the EU’s tool to combat tax evasion and money laundering. It includes countries that encourage tax abuses that erode the tax base of EU members. Forming a list of such jurisdictions allows EU countries to put pressure on them to carry out reforms.
Finance Minister Anton Siluanov in February 2023 named The EU decision is “purely political.” He noted that this issue was not discussed with the Ministry of Finance of the Russian Federation. The EU decision will not entail any consequences for the budget and economy of the Russian Federation, he added.
The EU blacklist is updated twice a year. It includes 16 jurisdictions. The British Virgin Islands, Costa Rica and the Marshall Islands were excluded from the new list and the Seychelles, Belize, Antigua and Barbuda were added.
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