Dear Ladies and Gentlemen!
On 5 December 2022 the Order “On the Approval of the List of States (Territories) That Automatically Exchange Financial Information” (the “Order”) was published.
The Order will come into force on 16 December 2022.
It means that individuals holding Swiss accounts should reconsider the use of such accounts in order to avoid transactions that violate the currency control regulations of the Russian Federation.
To learn more about the details of the changes, the impact of the updated regulation on transactions with accounts opened by individuals in countries which do not automatically exchange financial information with Russia, and possible strategies please see newsletter.
ALRUD experts have vast experience in supporting clients with currency control compliance issues and will be glad to analyse your situation and develop an action plan that takes into account the latest legal requirements and helps to meet your needs.
We hope you have found this information helpful. If any of your colleagues would also like to receive our newsletters, please send us their email address in response to this message. If you would like to learn more about our Tax Practice, please let us know in a reply email. We will be glad to send you our materials.
Notice: Please note that all information was taken from public sources. The author of this letter is not responsible for any consequences resulting from your decisions based on this information.
We hope that the information provided herein will be useful for you.