The Federal Tax Service (FNS) of the Russian Federation is set to remove Estonia and five other countries from the blacklist of the countries and territories that do not comply with the requirements concerning exchange of information for tax purposes with Russia on Oct. 1.
Among the countries to be removed from the list are also the Cayman Islands and Bermuda. South Korea, meanwhile, will be added to the blacklist.
Russian media reported in July that the tax authority was about to remove several countries, including Estonia, from the blacklist, but did not offer any dates. Removal of individual countries from the list means that their transparency has improved and they have started to share information with the tax service of Russia, reported Russian newspaper Vedomosti.
It is claimed that the FNS blacklist still remains three times longer than a corresponding list in the Russian Ministry of Finance.
Editor: Editor: Aili Vahtla