The number of countries transmitting information about tax residents to Russia has increased

The organization for economic cooperation and development (OECD) continues to fight tax evasion and illegal profit-withdrawal schemes. One of the methods is the automatic exchange of information about foreign accounts, which Russia has been participating in since 2018. Tranio experts told about the news concerning persons holding foreign accounts.

In most cases, investments abroad involve the creation of foreign companies and opening accounts in foreign banks. Invoices may be required to purchase real estate or pay for utilities. Continue reading →