The role of the offshore segment in Russia's economic development

In the modern economic world, the practice of using business representatives from offshore companies is an integral part of a society's economic life. In practice, there are a variety of reasons why businessmen are seeking to export capital from their own country. These include excessively high taxes, an inefficient investment climate, a lack of allocation of property rights, an unstable economic and political situation, as well as many other reasons. The vast majority of Russian production assets are owned by companies registered in offshore zones, which means that the national economy loses a considerable amount of potential tax revenue, and therefore, there is some loss of profit. Capital derived overseas consists mainly of the exported part of natural resources rent, or other income received from monopolization and corruption in the Russian economy. However, offshore schemes are often used for "money laundering", including the laundering of capital obtained by criminal means, and in turn, no taxes are paid on this capital. The issues of optimizing tax revenue remain relevant at various stages of the development of economic systems. In this regard, there is a growing interest among the majority of representatives from large and medium-sized businesses in the issues of offshoring in the Russian economy. This problem is currently being discussed by practically all business representatives. Therefore, the subject of the "de-offshorization" of Russian business has become particularly relevant recently, not only "in words", but also "in practice". Lately, significant changes have been made to Russian legislation with the goal of stopping the withdrawal of assets from the country to offshore sectors and returning these assets back home. A practical fight has been started against corruption, which is an integral part of the problem of offshoring, and is closely linked to it. Currently, the majority of Russian enterprises are interested in reducing their tax burden, which leads to a lot of problems to be solved. These problems are primarily related to the question of how to do this in business legally within the framework of the applicable legislation, not contradictory to it. For a number of major businessmen, the issue of tax optimization is allowed through offshore methods of tax planning. The basis of the offshore method lies in the legislation of many countries that are partially or completely exempt from the taxation of enterprises owned by foreign entities.

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