OrbitaxRussia to Remove the British Virgin Islands and South Korea from List of Jurisdictions without Adequate Information Exchange for CFC Profit Exemption Purposes
|Proposed Changes|Russia-B Virgin Isl-Korea, Rep of
The Russian Federal Tax Service is currently consulting on an amended list of jurisdictions that do not have adequate tax information exchange with Russia, which affects the Russian tax exemption for controlled foreign company profits. Under Russian law, an exemption from tax is provided for the profits of CFCs meeting certain conditions, unless the CFC is resident in a listed jurisdiction. The…
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