The Russian Federation has joined the international system of automated tax information exchange

The Federal Tax Service (Federal Tax Service) on behalf of the Russian Federation signed a multilateral agreement on the automatic exchange of financial information CRS MCAA at the anti -corruption summit in London, TASS reports.

An agreement on a single information exchange standard (Common Reporting Standard, CRS) was approved by the Ministers of Finance of the G20 countries in February 2014 and the OECD Council in July of the same year.

The document provides for an annual exchange of information on the financial activity of individuals and companies (including funds and trusts), in particular, data on the payment of dividends and interest on deposits, as well as the status of balance sheets and transactions.

The Federal Tax Service noted that this agreement, together with the Convention on mutual administrative assistance in tax affairs, which was ratified by Russia on November 4, 2014, is an international legal basis for the implementation of automatic exchange of information on the basis of a single reporting standard. The standard was developed by the OECD and supported by the member countries of the Group twenty.

Already in 2018, the Federal Tax Service of Russia will be able to draw up a full picture of the tax affairs of Russian tax residents abroad, and this information may serve as a reason for conducting control measures.

Earlier it turned out that the signing of the Agreement puts in the extremely uncomfortable position of the owners of foreign accounts who were not determined with the participation in the "offshore amnesty" .

In addition, in communicating with reporters, Russian officials categorically deny any connection between the MCAA decision with the Panama Archive . According to them, this is planned work.

Russia has already become 81 jurisdiction, which has joined the agreement on automatic information exchange. Since 2018, the Russian Federation will receive information about foreign accounts of Russian tax residents from foreign tax authorities. Today, the exchange of information is mainly carried out on request.

Information will include data on various types of investment income, including dividends, interest, income from certain insurance products, funds proceeds from the sale of financial assets, information on the balance in the account and payments made using the account. At the same time, Russia will transfer the same information about foreign tax residents to the relevant countries.

In November 2014, Russia ratified the Convention on mutual administrative assistance in tax affairs, signed back in 2011. The Convention, which entered into force for Russia from July 1 of last year, provides for the exchange of information at the request and arbitrary exchange (at the initiative of the state owning information) without any additional agreements, but two -way or multilateral agreements are necessary for automatic exchange.

Later, under the auspices of the OECD, a multilateral agreement of the competent authorities on the automatic exchange of financial information was signed. On April 30, 2016, the Russian government issued an order that instructed the Federal Tax Service to sign this multilateral agreement. At the end of April, the Minister of Finance of the Russian Federation Anton Siluanov announced the signing of the agreement by Russia, which is planned for May 12.

Then the minister explained that in practice, “hiding” income from Russian tax authorities in foreign countries will become much more difficult, and over time it is impossible.