The law firm “Levant and Partners” reports that by order of the Federal Tax Service of Russia dated March 4, 2016 (registered with the Ministry of Justice of the Russian Federation on March 22, 2016) No. ММВ-7-17/117@, a list of states (territories) that do not ensure the exchange of information for tax purposes with the Russian Federation was approved.

The list includes 111 countries and 22 territories.

States that do not exchange information include the Bahamas, Belize, Dominica, Liechtenstein, Monaco, Maldives, Seychelles.

The territories that do not provide information exchange include the British Virgin Islands, Hong Kong (Hong Kong), Macau (Aomen), and Taiwan.

The list was approved as part of the regulation of controlled foreign companies (CFC). In accordance with the Tax Code of the Russian Federation, the profit of a controlled foreign company may be exempt from taxation if the permanent location of such a controlled foreign company is a state (territory) with which there is an international tax treaty with the Russian Federation, with the exception of states (territories) from the specified approved list.

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