Tax Evasion in Russia

Financial investigators in Russia estimate that up to $30 Billion (1 Trillion Roubles) is lost to tax evasion activities in Russia each year.

In addition to the tax evasion, an additional $48 Billion leaves Russia through illegal transferring of wealth to offshore bank accounts. A Governor of the Central Bank stated that transactions involving money laundering and illegal black market sales are a part of these activities.

Source:  Howard Armos, “Russia loses £52bn a year in tax evasion and illegal transfers, says bank chief,” Guardian, February 21, 2013.

(More on tax evasion and illicit financial transactions.)