The Russian government’s legislative commission has endorsed a bill to ban the signing of state contracts with offshore companies
Pursuant to the commission’s statement the aim of the bill is to support Russian producers and to stimulate import substitution. The bill bans the signing of state contracts with companies that are registered in the countries and jurisdictions that are on the list of offshore areas. Besides, under the bill the legislative commission is obliged to examine that the applicants for such contracts comply with these requirements and to refuse them if they don’t. In December 2013, President Vladimir Putin in his annual address to the Federal Assembly called for a crackdown on Russian companies that dodge taxes by registering in offshore jurisdictions.
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