Effects of deoffshorisation measures on Russia’s investment climate

Abstract

The article describes the key regulatory measures of Russia’s government aimed at deoffshorisation of the Russian economy, in particular introduction of controlled foreign company rules, stipulation of the “beneficial owner” definition and introduction of tax residency rules. The author analyses the impact of these measures on Russia’s investment climate using the World Bank and World Economic Forum data. Although the results of the analysis show that some aspects of investment climate have deteriorated (for example, additional reporting and more complex taxation), the overall effect of deoffshorisation measures on the investment climate is positive.