A new list of countries with which Russia has an automatic exchange of financial information has been approved. Orders of the Federal Tax Service of Russia No. ED-7-17/914,No.ED-7-17/915,no.ED-7-17/916 dated October 30, 2024 come into force on December 31, 2024.
26 member states of the European Union were excluded from the list, which unilaterally stopped the automatic exchange of financial information with Russia. Lithuania was not on this list before, Latvia and Germany were excluded back in 2023.
Now, Russian citizens with tax residence in the Russian Federation, that is, living in the country for more than 183 days a year, will be able to receive funds to their foreign accounts in jurisdictions excluded from auto-exchange, only for a limited number of reasons. Selling real estate or renting it out is not such a reason.
Sources: The guarantor, Forbes