Russian legislation on de-offshorisation will be drafted this year

Russian legislation on de-offshorisation will be drafted this year

The Federation Council, the upper house of Russian parliament, intends to discuss de-offshorisation laws on a priority basis during the spring session. 

Valentina Matviyenko, Chairperson of the Federation Council, says she believes that legislation for de-offshorisation of the Russian economy would be ready this year, but thinks that companies will need a transitional period to comply with the new rules.

The Federation Council and the State Duma, lower house of Russia’s parliament, have each set up a working group, which are drafting several bills amending the Criminal, Tax and Budget Codes, along with the government, the Ministry of Finance and the Ministry of Economics. 

 

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