The Federal tax service (FTS) of Russia adopted the decree on the exclusion of the British virgin Islands from the list of governments that do not provide information about the owners of offshore companies. The corresponding order of the Ministry has been signed and is now on registration in Ministry of justice, writes RBC with reference to a source in the tax service.

This year the government of the Islands has opened a centralized registry of owners of all companies registered in this jurisdiction. Access to information hidden to the public, but authorities will provide upon request from the tax structures of other States tax information for foreigners, including citizenship, name and date of birth of the beneficiary business, even if he owns a business through a number of other offshore companies.

Exception BVI from the black list means that with the new year local authorities are willing to provide information about the real owners are registered in this jurisdiction companies at the request of the Federal tax service of Russia on a regular basis, the newspaper notes.

In 2014, the Ministry of Finance of Russia has published the list consisting of 40 offshore, which included the exceptionally low tax jurisdiction. This list lists the countries and territories with which no agreements on avoidance of double taxation, or the countries and territories with which the quality of information exchange in tax matters are unsatisfactory.

With the improvement of the exchange list will be reduced, and as the deterioration is to replenish the individual countries, explained the representative of the FTS. Exclude the country from the list on can free was there of the company under the fiscal control.

Possession of offshore companies is not illegal, but some owners prefer to withdraw their assets in jurisdictions with low tax due to low taxation, the lack of specific requirements for accounting and financial control by the authorities.

Recently, we will remind, it was reported that, according to analysts from the National Bureau of economic research USA, in the period from 1990 to 2015, the Russians withdrew to offshore approximately 75% of the national income of the country.

British virgin Islands is excluded from black list of offshore companies in the Russian FTS 03.10.2017

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