The EU has put Russia on the list of tax havens, they do not trust its economic reports

The EU has put Russia on the list of tax havens, they do not trust its economic reports

The EU put Russia on the list of tax havens, not believing its economic reports ;vám

The Russian flag on the roof of the Presidential Palace in the Moscow Kremlin.

Brussels – The European Union has added Russia to the list of countries not cooperating with the EU authorities in tax matters. According to Czech Finance Minister Zby┼łek Stanjura, the move is related to the Russian invasion of Ukraine, during which Moscow is not providing reliable information on economic matters. The Union expanded the list of so-called tax havens to include Costa Rica, the Marshall Islands and the British Virgin Islands. A total of 16 countries are on it, the EU Council informed.

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According to the union, the regularly updated list should contribute to the fight against tax evasion. It includes countries in which the EU has doubts regarding tax transparency, fair taxation or compliance with international rules aimed at reducing the tax base and shifting profits elsewhere.

“The reports from Russia cannot be trusted at all. We are unable to independently verify that the information they publish about inflation, economic growth or the payment system is credible and relevant,” Stanjura told journalists after the meeting.

According to the Council of the EU, Moscow also did not ensure that the special regime for international of holding companies, which was introduced by the law adopted last year, did not harm these companies.

The union created the charter in 2017 and updates it annually. Among the 16 countries currently on it are mostly Caribbean and Pacific island states.