As reported by the Times of Malta, the Russian Finance Ministry has drafted a decree that will exclude Malta from the blacklist of offshore jurisdictions, according to the Russian news agency Tass.

The decision followed the signing of an agreement between the Maltese and Russian governments in May. This agreement was on the avoidance of dual taxation and prevention of tax evasion with regard to income tax. There are 41 offshore jurisdictions in the black list.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.