The State Duma of the Russian Federation adopted a law on automatic exchange

The State Duma of the Russian Federation has adopted a bill on the automatic exchange of information on financial accounts.

The bill is considered high-priority and is expected to be reviewed during the autumn session. Amendments must be submitted by October 19th (for the second reading).

Once the law on automatic exchange comes into force, changes will be introduced to the Tax Code of the Russian Federation, defining the procedure for interaction between domestic tax authorities and similar authorities of other countries during tax monitoring and joint audits.

This also includes the obligation to ensure the collection of necessary information during joint investigations of tax crimes.

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