The British Virgin Islands excluded from offshores black list

The British Virgin Islands excluded from offshores black list

The exclusion from the black list means that the offshore is ready to exchange information with the Federal Tax Service (FTS) or has already been doing so.

The British Virgin Islands and South Korea were not included in the new version of the black list of offshores that the FTS has prepared, Vedomosti reports.

Exclusion from the black list means that the offshore company either already exchanges information with the Federal Tax Service or is ready to provide it in the near future, the newspaper said.

Vedomosti writes that the British Virgin Islands are the most popular offshore because of flexible corporate legislation.

However, recently 'on the islands' there are stored personal purses of businessmen, and Russian companies are less likely to transfer money there, the newspaper notes.

Offshore countries and jurisdictions are those where low or zero taxes are established for non-resident companies, and owners are given ample opportunities to hide the fact of participation in business.

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