Moscow okays law to clamp down on offshore tax shelters

Moscow

RUSSIA'S government has approved a new tax law to clamp down on Russian companies and individuals using offshore tax shelters.

The law is part of a range of measures initiated by President Vladimir Putin, and collectively known as "deoffshorisation", which are aimed at bringing Russian businesses and money home from foreign jurisdictions.

Pressure on Russians to move assets and corporate structures to Russia fro…