'Deoffshorization the strategy for the economic repatriation of investment flow to the Russian Federation' National Security / nota bene nbpublish.com
Eng Cn Translate this page:
Please select your language to translate the article


You can just close the window to don't translate
Library
Your profile

Vasiliev, I.V., Karpov, V.A. Deoffshorization the strategy for the economic repatriation of investment flow to the Russian Federation

Published in journal "National Security / nota bene", 2013-4 in rubric "Economical support of national security", pages 629-635.

Resume: The article contains analysis of the current situation regarding the use of offshore companies in order to avoid taxation and movement of the taxation center from the Russian Federation to the states with beneficial taxation. The article ref lects upon the measures taken in legal and tax practice of foreign states against abuse of offshore by physical persons and legal entities in order to minimize taxation. The authors make a number of propositions on economic measures, which should facilitate transfer of taxpayers into the sphere of legal business and due payment of taxes. As the practice shows, the key factors in support of the use of offshore companies within foreign jurisdictions include physical accessibility and convenience of jurisdiction, minimal requirements (absence of such requirements) towards disclosure of information on beneficiaries of the companies, simplified accounting, free access to cheap credit resources through the stock circulation in the foreign markets, as well as meticulous protection of banking and audit secret. However, at the top of the list is so-called comfortable taxation, which means absence of taxes on profits from the activities of foreign resident companies. Among the economic measures aimed to facilitate the transfer of bad-faith participants of foreign economic activity into the sphere of legal business and tax payment, it is necessary to establish the mechanisms of taxation of income of controlled foreign companies in the Russian Federation; to introduce the offshore tax and to create the mechanism for divulging the information about Russian beneficiary owners for the tax and customs bodies; legislative provisions for the term offshore zone. Finally, the complex of such economic measures shall guarantee the f low of capitals from the offshore to the Russian Federation, it shall support the balance of payment and Russian currency.

Keywords: deoffshorization, the Russian Federation, taxation, avoiding, companies, offshore, legalization, business, jurisdiction, reporting.

DOI: 10.7256/2073-8560.2013.4.8992

This article can be downloaded freely in PDF format for reading. Download article

Bibliography:
1. B.Kheyfets. Ofshornye finansovye seti rossiyskogo biznesa//Voprosy ekonomiki/ 2009. 1.
2. Offshor na vse vremena? // Finansovyy kontrol' / 2012. 8 (129).
3. Prilozhenie k prikazu Minfina Rossii ot 13 noyabrya 2007 g. 108n Ob utverzhdenii Perechnya gosudarstv i territoriy, predostavlyayushchikh l'gotnyy nalogovyy rezhim nalogooblozheniya i (ili) ne predusmatrivayushchikh raskrytiya i predostavleniya informatsii pri provedenii finansovykh operatsiy (ofshornye zony).
4. Prilozhenie 1 k Ukazaniyu Banka Rossii ot 7 avgusta 2003 g. 1317-U O poryadke ustanovleniya upolnomochennymi bankami korrespondentskikh otnosheniy s bankami-nerezidentami, zaregistrirovannymi v gosudarstvakh i na territoriyakh, predostavlyayushchikh l'gotnyy nalogovyy rezhim i (ili) ne predusmatrivayushchikh raskrytie i predostavlenie informatsii pri provedenii finansovykh operatsiy (ofshornykh zonakh).
5. V. Katasonov. Pogrom ofshorov, ili operatsiya Offshore leaks//www.km.ru/spetsproekty.

Correct link to this article:
just copy this link to clipboard