Russia at the OECD Forum will sign an agreement on the exchange of tax information – RIA Novosti

14:27 28.04.2016

(updated: 14:43 28.04.2016 )

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MOSCOW, April 28 – RIA Novosti Russia May 12 at the forum of the Organization for economic cooperation and development (OECD). sign the international agreement on the automatic exchange of tax information, told reporters the head of the Russian Ministry of finance Anton Siluanov.

“Today, government has decided to accede to the international agreement which allows member states to exchange information on financial transactions of citizens and companies in automatically …. The signing of the Multilateral Agreement scheduled for May 12 this year at the OECD Forum on Tax Administration in Beijing, “- said Siluanov after a cabinet meeting

In practice, the automatic exchange means that the tax the country’s authorities will receive information about the Russian taxpayers from foreign banks, depositories, brokers, institutions of collective investments, some insurance companies, he said, adding that it is a Russian resident transactions related to the opening and closing of bank and other accounts, as well as they receive income.

“Technologically, the process of implementing rules that enable the automatic exchange of tax information, to be completed no later than 2018. This means that to hide their income from the Russian tax authorities in foreign countries will be much more difficult, and eventually impossible to do. Especially because today 80 countries have acceded to the agreement, and then their number will only grow, “- said the head of the RF Ministry of Finance

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