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The Federal Tax Agency in the framework of the international automatic exchange of financial information received data on foreign accounts and assets of Russians in 58 jurisdictions, including in the British Virgin and Cayman Islands, in Mauritius and in other offshore and low tax jurisdictions. It is reported by the RBC.

“This is a completely new level of tax transparency. If earlier it was necessary to make a request to the competent authority of a foreign jurisdiction, now information about the existence of a foreign account with a particular taxpayer itself is received and is available at the touch of a button”, the publication quoted the deputy head of the Federal Tax Agency Alexei Overchuk.

Dmitry Volvach, head of the International Cooperation and Currency Control Directorate of the Federal Tax Agency (the FTS), expects that by comparing the information with the taxpayers\' reports, it will reveal 10-15% of discrepancies.

The number of residents with accounts abroad and the number of companies controlled by them the FTS does not disclose. Russia joined the automatic exchange of tax information, in which 75 countries and 13 territories participate, in September 2018. During a two-way exchange, each participant receives data on foreign accounts of taxpayers and transmits information about the accounts of non-residents to foreign colleagues.

znak.com, 5 March 2019