The Russian authorities are closing the “Cypriot freemen”. Ukraine will keep the loophole
The Russian authorities announced plans to break the tax agreement with Cyprus, which allowed businesses not to pay higher taxes in the Russian Federation. Cyprus was often used as a “layer” between Russia and classic offshore companies, where oligarchs hide excess profits. According to the Ministry of Finance, over the past two years almost 3,5 trillion rubles have been spent on Cyprus. “I am completely satisfied with the termination of the tax agreement...