The Ministry of Finance has approved a list of offshore zones.

The order contains a list of 40 jurisdictions that provide preferential tax treatment and (or) do not provide for the disclosure and provision of information when conducting financial transactions (offshore zones), which is more than two times less than the one that the Ministry of Finance approved in June 2023. Australia, Canada, the Republic of Cyprus, the United Kingdom of Great Britain and Northern Ireland, the USA, Taiwan (China), Ukraine, Japan, etc. are not included in the list.

The order applies to tax periods of 2024 - 2026 for corporate income tax and personal income tax:

• for exemption from taxation of CFC profits under p. 3 cl. 7 art. 25.13-1 of the Tax Code of the Russian Federation;
• to adjust CFC profits according to p. 3 cl. 1.2 art. 25.15 of the Tax Code of the Russian Federation;
• to determine the tax base for income tax according to p. 3 subcl. 11 cl. 1 art. 251 of the Tax Code of the Russian Federation;
• to apply the profit rate according to p. 1 or 1.1 cl. 3 art. 284 of the Tax Code of the Russian Federation.

Document: Order of the Ministry of Finance of Russia dated March 28, 2024 N 35n “On approval of the Special List of states and territories that provide preferential tax treatment and (or) do not provide for the disclosure and provision of information when conducting financial transactions (offshore zones).”