20 September 2016 Russian Government issues bill for implementation of Automatic Exchange of Financial Account Information At the Tax Administration Forum in Beijing on May 12, Russia signed a multilateral agreement in which it officially acceded to the Standard for Automatic Exchange of Financial Account Information (Common Reporting Standard or CRS). In order to enable compliance with the CRS's requirements, amendments are required to the Russian legislation. Accordingly, on September 6, the Russian Finance Ministry issued for public discussion a bill to implement the CRS in Russia. The draft federal law Concerning the Introduction of Amendments to Part One of the Tax Code of the Russian Federation (in Connection with the Implementation of the International Automatic Exchange of Financial Account Information and Documentation for International Groups) (the Draft Law) has been posted on the federal portal of draft regulatory acts. Document ID: 2016-1576 |
