“Russia’s Ministry of Finance (Minfin) published last week draft amendments to the nation’s Tax Code relating to the taxation of foreign companies controlled by tax residents of Russia. It is basically the Russian version of FATCA – an all-encompassing tax regime aiming to bring Revenue to the Russian government via legal corporate and investment entities outside of Russia. They even have a name for this new regime: ‘de-offshoring.’  China has also pledged to make international efforts to fight ‘tax base erosion and profit shifting’ by moving funds to low-tax jurisdictions.  This is all part of the G20’s pledge to combat the global practice of shifting funds to low-tax jurisdictions to evade taxes.”

http://dollarvigilante.com/blog/2014/3/24/governments-worldwide-adopting-fatca-style-legislation.html

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