This Is The Moment When Russian Money Started Flowing Into Cyprus

This Is The Moment When Russian Money Started Flowing Into Cyprus

This Is The Moment When Russian Money Started Flowing Into Cyprus

 

This Is The Moment When Russian Money Started Flowing Into Cyprus

 

There are tax havens all over the world, so why is Cyprus so special to Russia? It all goes back to a tax agreement made at the end of President Boris Yeltsin's administration in 1998.
The year is mostly remembered for the horrible collapse of the Russian economy. What's less remembered is that, in the years before the crisis, Yeltsin had been trying to reform the tax code to make it more centralized. Those reforms became more vital as the economy deteriorated.

Read more: http://www.businessinsider.com/cyprus-russia-tax-treaty-2013-3#ixzz3bX2HVcGN