Russian Government affirms the agreement on taxation information exchange

20.08.2014

Government of Russia adopted the model agreement on the exchange of information concerning the taxation matters, which can be concluded with governments of another states. The negotiations with competent foreign authorities on the conclusion of such agreements on exchange of taxation information will be conducted by the Ministry of Finance of Russian Federation with the participation of Federal Revenue Service

According to the agreement the competent authorities of the Parties are cooperating by exchange of information, which can be considered substantial with regards to administrating of taxes and in accordance with the tax legislation of the Parties to the agreement, including defining, calculating and levying of taxes.

Requested information shall be submitted in the reasonable time, but no later than 90 days since the request from governmental body. The party from which information was requested shall submit only the information that is in governmental body’s possession and which is controlled by the persons within the state’s jurisdiction.

Source: http://government.ru/media/files/41d4fb8e089e32a0371a.pdf

Expert’s opinion

It is joyous that despite everything Russian Federation is on the way of integration into international community.

Especially I was glad to see article 10: “Requests and answers for the requests shall be written in Russian language or (in the language of another state) with the mandatory translation into English”.

Thus, despite the odds there is no possibility to be in isolation.

Experts with good legal English are more than welcome.

Use quality services!

Our English-speaking lawyers will consult you on how to do business correctly and safe

Yaroslav Lomakin ( Managing Partner, Honest&Bright)