Interesting facts about the banking system
The Bank is an organization providing financial services to the public. This is its main…

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Formation of approaches to the functioning of the bank in the context of sustainable development
The world community is unanimous about the need to make changes in the functioning of…

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Questions about offshore banking and offshore banking
Offshore banks and offshore banking raise many questions: what is offshore banking and how are…

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Brunei Offshore: Will Brunei offshore jurisdiction suit you?
Offshore Brunei - a tiny state that bites into the territory of Malaysia and wins…

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going through

Good reason to open a foreign bank account

The litigation that is currently unfolding between the Federal Tax Service and Sberbank may be a significant precedent that will affect the entire banking sector in Russia. The FTS accuses Sberbank of dishonest behavior, which is expressed in the fact that the bank refused to perform the functions of the tax authorities and write off funds in paying taxes from the client’s account.
The decision of the court is now closely watched by many account holders in Russian banks. If the court takes the side of the FTS, it may mean that in the near future the requirement to write off taxes from the accounts will be mandatory for all banks. This means that accounts in Russian banks will become an even less secure and confidential way of storing funds. Continue reading