Russian offshore taxation bill wins Duma support

Russian offshore taxation bill: All four parties in the Duma are putting their  support behind  a bill aimed at curbing  the use of offshore banking and dual taxation treaties for tax avoidance purposes. If enacted, the bill would introduce the concepts of a controlled foreign company (a company controlled by a Russian tax resident) and a controlling person who is in charge of that company. The bill also provides for shares registered jointly under the names of individuals’ spouses or children. RIA Novosti