Russian Finance Ministry has decided to keep out Malta from the blacklist of offshore jurisdictions, Russian news agency Tass has reported.
The decision follows the ratification of ratification of governmental double tax treaty between the Russia and Malta governments in May this year.
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Till date, around 41 offshore jurisdictions are included in Russia’s offshore black list.
In September this year, Valentina Matviyenko, chairperson of the Federation Council, upper house of Russian parliament, has sent a set of draft laws on de-offshorisation to the State Duma (lower house of parliament).
The de-offshorisation laws if implemented are expected to fine tax evasion with a prison term of up to six years.
Irina Yarovaya, chair of the Duma Security and Anti-Corruption Committee has asked the Finance Ministry and the Central Bank in March 2014 to issue a black list of offshore jurisdictions.
Additionally, Yarovaya has recommended Vnesheconombank not to issue loans to companies that are not registered in Russia.
