MOSCOW—The economic crisis sparked by the coronavirus pandemic is pushing the Kremlin to clamp down on tax avoidance and close an offshore loophole popular with Russian business, as the government scrambles to plug holes in its budget.
Starting in January, Moscow says it will begin taxing at higher rates profits that companies transfer to lower-tax jurisdictions such as Cyprus, Malta and Luxembourg, marking some of the most aggressive steps taken by Moscow in recent years to claw back tax revenue.
Until…
This post first appeared on wsj.com
