Russia Publishes List of Jurisdictions without Adequate Information Exchange for CFC Profit Exemption Purposes

The Russian Federal Tax Service recently published a list of countries 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 ({News-2015-10-30/A/4- previous coverage}), unless the CFC is resident in a listed jurisdiction.

140 jurisdictions are listed, including those that have not entered into an agre…