On 13 November 2023 a draft Order of the Federal Tax Service of Russia “On Approving the List of States (Territories) that Commit Systematic Violations of Obligations on the Automatic Exchange of Country-by-Country Reports” was made available on the Federal Portal of Draft Laws and Regulations. The List comprises 21 foreign states which are predominantly ‘unfriendly’ EU-member states and Japan, and also the Bermuda territory.
The Order may have come about due to difficulties faced by the FTS of Russia in obtaining Country-by-Country reports from foreign jurisdictions as part of the automatic exchange of information. These challenges flow organically from public statements made by a number of countries on renouncing the exchange of tax information with Russia.
Read a review by Kept for details.
