OREANDA-NEWSLow-tax jurisdictions - the Isle of Man, Guernsey and Jersey - plan to inform Russia in 2020 about the accounts and assets of Russians in these offshores, follows from official lists. Last year, they decided not to transmit this information to Russia - there was no automatic exchange of financial information with Russia.

This is important both in terms of combating tax evasion and money laundering, and in the context of weakening currency controls. Starting January 1, 2020, all restrictions on foreign accounts for Russian residents have been lifted, provided that the account is opened with a bank in the territory of the Eurasian Economic Union (EAEU) or with banks in the territories of countries that participate in the automatic exchange of financial information with Russia.

Nevertheless, despite the fact that the Federal Tax Service excluded Maine, Guernsey and Jersey from the list of car exchange participants, Russia is on the updated lists of these islands as of January 1, 2020 - formally they have every reason to inform the Federal Tax Service about the accounts and assets of Russians.