FEATURES OF OFFSHORE CENTRES FUNCTIONING IN MODERN CONDITIONS 

Bunevich Konstantin Georgievich, Candidate of economic sciences, associate professor, head of sub-department of finances and credit, Moscow University named after S. Y. Vitte (building 1, 12 2-oy Kozhukhovsky lane, Moscow, Russia),
E-mail: kbunevich@muiv.ru
Polovinkina Elena Semenovna, Master’s degree student, Moscow University named after S. Y. Vitte (building 1, 12 2-oy Kozhukhovsky lane, Moscow, Russia), E-mail: 70098859@online.muiv.ru 

339.72 

10.21685/2309-2874-2017-2-10 

Background. The policy of deoffshorization in Russia is caused by a massive outflow of capital, the need to attract investment and reduce revenues. The government is committed to encourage the business to investprofits in the domestic market, while Russian companies have to use offshore to improve the competitiveness and access to the international capital market. The aim of this work is to consider theoretical aspects of organization and functioning of offshore financial centres (OFCS).
Materials and methods. The article considers the features of organization and functioning of offshore financial centres, describes in detail some offshore schemes that promote free movement of capital, thus ensuring the needs of multinational corporations and allowing to legally optimize significant tax costs transparent from the point of view of the international law. Methodological potential includes the method of retrospective analysis, the graphic method, the method of induction, the method of expert estimations.
Results. Offshore schemes are transparent from the point of view of the international
law. But it used to be true, everything has changed: some of them become ineffective due to the pressure of international organizations on some OFCS; meanwhile, in response to the limitations, new schemes appear. The bounds between offshore,
mid-shore and onshore companies also legally allow to optimize taxation. In this case business is organized by creation of offshore schemes used by both foreign and Russian corporations.
Insights. Currently, OFCS are an important element of the global economy. We can accept that they don't just operate, but thrive, which confirms the growth of their financial flows. Most OFCS have emerged not because of historical circumstances, but were created by some States in order to attract capital. It is very important to continue the study of offshore centres functioning in modern conditions, including the process of deoffshorization in the Russian Federation. 

financial centre, offshore schemes, global Finance 

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