In total, Russia will receive financial data from 82 jurisdictions when the CRS takes full effect worldwide next month. In return, the country will send data on foreign account-holders in Russia to 59 jurisdictions, according to the OECD’s database of CRS exchange agreements.
“The days of aggressive tax optimization are gone,” said Andrey Pozhitkov, director in UFG Wealth Management.
This article was provided by Bloomberg News.