Offshore

Tag: Offshore

Residents of unfriendly states banned from registering legal entities in DPR - decree

A decree of the State Defense Committee of the self-proclaimed Republic, prohibiting the registration of legal entities, the heads, founders or beneficiaries of which are residents of unfriendly states, has come into force.

13:43 21.06.2022

Case over TOAZ assets fraud in the Makhlais interests forwarded to prosecutors

The Main Directorate on Major Crimes Investigation of Russia’s Investigative Committee has completed a probe into a criminal case against Xenia Balashova, the CEO of “Kontaz LLC”. Balashova stands charged with evasion of the profit tax for year 2008 (p.p. a, b of Article 199.2 of the Criminal Code of the Russian Federation). Earlier, Balashova pleaded guilty to the crimes charged declaring she acted under direct instructions of Vladimir Makhlai.

11:41 17.02.2021

Investigators launch probe in terms of Cypriot Netcore Solutions’ loan to CFB bank

Russian investigators are examining the situation with regard to a subordinated loan agreement made between Corporate Finance Bank LLC and Cypriot company Netcore Solutions Ltd.

17:56 08.12.2020

Cypriot firm ordered to pay $69 million to Trust Bank

The Moscow Commercial Court held that the Cypriot company Oldehove Holdings Limited must pay 4.3 billion rubles ($69 million) to Trust Bank.

17:38 25.10.2016

Panama Papers: more than 6.2 thousand Russian nationals in newly updated database

The International Consortium of Investigative Journalists (ICIJ) has recently published a searchable database displaying information on clients of Panama’s law firm Mossack Fonesca, allegedly owning offshore companies, which includes 6,285 Russian nationals.

11:34 10.05.2016

Cypriot firm’s appeal against order to pay Trust Bank $29 mln set for Apr.27

The Ninth Commercial Court of Appeals on April 27 will consider an appeal filed by Cyprus-based Siberiankd Timber Enterprizes Limited against recovery of over 2 billion rubles ($29 mln) in favor of Trust Bank.

17:35 06.04.2016

Political party funding by offshore companies could be prohibited in Russia

Lawmakers from the Communist Party have submitted a bill to the State Duma that would prohibit the funding of political parties by offshore companies (Russian companies based outside of Russia).

17:15 02.09.2015

Mikhail Kazantsev: capital amnesty is an outreach to the business community

Russia’s law broadly known as the “Capital Amnesty Law” - was adopted on June 8. Under the amnesty, taxpayers are able to declare their foreign assets by filing a special declaration with Russia’s tax authorities. Meanwhile, the state guarantees a waiver of tax proceedings related to the assets declared. Mikhail Kazantsev, a partner at Egorov, Puginsky, Afanasiev & Partners, spoke with RAPSI about what had come out of it and how it might operate in practice.

16:58 28.07.2015

Russia’s Far East shipyard suspected of siphoning $7.5 mln offshore - report

Over 400 million rubles ($7.5 million) received by Zvezda Shipyard, a large shipbuilding and engineering complex in Russia's Far East, were allegedly siphoned into offshore accounts, Izvestia newspaper reported on Tuesday.

10:34 02.06.2015

Putin promises to curb loose interpretation of 'capital amnesty' law

President Vladimir Putin confirms that if the Russian government proceeds with the amnesty program for returning offshore capital, a random interpretation of the law, including by law enforcement agencies, will be unacceptable.

17:12 19.03.2015

Russian government endorses bill banning state contracts with offshore companies

The Russian government's legislative commission has endorsed a bill to ban the signing of state contracts with offshore companies.

10:26 23.12.2014

Russia's Economic Development Ministry slams 'deoffshorization' approach

Russia’s Economic Development Ministry claims that mandatory 'deoffshorization' aimed at moving business activities of Russian companies from offshores back to the country entails considerable risks for the companies and the slowing economy of the country.

16:51 28.10.2014

Business community to have a say on Russia’s 'deoffshorization'

Russian President Vladimir Putin vowed during a meeting with a business leader Alexander Shokhin Friday that recommendations advanced by the country’s business community with regard to 'de-offshorization' will be taken into account.

18:14 14.02.2014

Offshore companies should be banned from privatization proceedings

The Russian Investigative Committee has proposed prohibiting offshore companies and their subsidiaries from participating in privatization proceedings.

17:08 24.01.2014

Companies may be obliged to provide information on offshore status - MP

Dmitry Savelyev, Deputy Chief of the United Russia Party, has submitted to the State Duma a bill that would require companies to inform consumers about their offshore status.

11:11 28.08.2013

Putin: Russia will draw up a national plan to deal with tax havens

Russia will draw up a national plan to deal with offshore tax havens, President Vladimir Putin said at news conference following the G8 summit in Northern Ireland.

10:31 19.06.2013