Russian Authorities to Start Publicising all Delinquent Shell Companies

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The Russian Federal Tax Service (FTS) has started distributing information relating to fiscal related practices and tax liabilities of Russian companies, with the end goal to enable legitimate corporate taxpayers to avoid doing business with the wrong people.

As per the FTS, the simplicity of setting up shell companies with no substance in Russia in order to dodge taxes has made organisations less eager to form new partnerships. The FTS will distribute fiscal details of dodgy companies; including data concerning late or overdue payments and other info regarding tax related fraud matters at the end of 2018.