• Latest
Russian tax authorities will have expanded access to banking secrecy - within three days after receiving a request, banks will be required to provide copies of banking information.

“Reduction of the gray area”: Russian Tax Service got simplified access to banking information

March 14, 2021
Elena Rybakina wins Wimbledon women’s singles title

Elena Rybakina wins Wimbledon women’s singles title

July 29, 2022
OnlyFans app

OnlyFans has no plans to resume service to Russian creators

July 27, 2022
Tech Giants Are Leaving The Russian Market In Droves And Striking A Blow To The Kremlin’s Economy

Tech Giants Are Leaving The Russian Market In Droves And Striking A Blow To The Kremlin’s Economy

April 2, 2022
Activists launched a website for relatives of servicemen sent to Ukraine

Activists launched a website for relatives of servicemen sent to Ukraine

March 2, 2022
Volunteers in Russia refuse to go to war with Ukraine

Volunteers in Russia refuse to go to war with Ukraine

February 17, 2022
New Opportunities for Youth: Russia to Expand Free Re-Education Program for People Under 35

New Opportunities for Youth: Russia to Expand Free Re-Education Program for People Under 35

February 10, 2022
Alvaris Pearce, a Russian photo model with political ambitions

Alvaris Pearce, a Russian photo model with political ambitions

February 9, 2022
The Kremlin Urged Not to Expect a “Fracture” After the Talks between Putin and Macron

The Kremlin Urged Not to Expect a “Fracture” After the Talks between Putin and Macron

February 7, 2022
Belgian Citizens Begin to Be Issued Passports with Comic Book Figures

Belgian Citizens Begin to Be Issued Passports with Comic Book Figures

February 7, 2022
Working meetings on the results of the St. Petersburg Sports and Patriotic Forum

Working meetings on the results of the St. Petersburg Sports and Patriotic Forum

February 4, 2022
Kremlin Confirms German Chancellor’s Visit to Moscow on February 15

Kremlin Confirms German Chancellor’s Visit to Moscow on February 15

February 4, 2022
Peskov Told About The Negotiations Between Putin and Xi Jinping

Peskov Told About The Negotiations Between Putin and Xi Jinping

February 4, 2022
Media: South Korea Wants to Open Cooperation Office with North Korea in Chinese Border City

Media: South Korea Wants to Open Cooperation Office with North Korea in Chinese Border City

February 4, 2022
Deutsche Welle’s Moscow Bureau Terminated

Deutsche Welle’s Moscow Bureau Terminated

February 4, 2022
Macron Admits Possible Trip to Russia Soon

Macron Admits Possible Trip to Russia Soon

February 3, 2022
  • About Us
  • Privacy Policy
  • Contact Us
  • Submit a News Release
Thursday, January 26, 2023
  • Login
Russia Daily News
  • Russia
  • Europe
  • Asia & Pacific
  • United States
  • Middle East
  • Africa
  • Latin America
  • Submit a News Release
No Result
View All Result
Russia Daily News
No Result
View All Result
Home Russia

“Reduction of the gray area”: Russian Tax Service got simplified access to banking information

by Artem Rovniy
March 14, 2021
in Russia
0
Russian tax authorities will have expanded access to banking secrecy - within three days after receiving a request, banks will be required to provide copies of banking information.
35
SHARES
169
VIEWS
FacebookTwitterRedditTelegram

Starting March 17, Russian tax authorities will have expanded access to banking secrecy – within three days after receiving a request, banks will be required to provide copies of customer passports, powers of attorney for money management, agreements for opening an account and applications for closing it, cards with sample signatures and imprints of seals.

This also applies to information about beneficial owners, client representatives, beneficiaries or individual transactions for a certain period.

Nadezhda Karavaeva, senior analyst of NRA bank ratings, commented on the expansion of the list of information that constitutes banking secrets available to tax authorities. She recalled that until now the tax authorities could receive data on accounts and deposits only within the framework of tax audits, and now they will have the right to request information outside of such audits.

Reduction of the gray area in economics

The purpose of the innovation is to increase control over the cash flows of both people and enterprises – not only over income, but also over expenses, which will make it possible to draw conclusions about the possible volume of undeclared income.

“Part of the economy’s cash flows is in the gray zone, and the tax authorities are trying to force the participants in the gray sector to pay taxes, thereby replenishing the budget,” Karavaeva explained.

The innovation is unlikely to lead to a noticeable departure of bank clients from non-cash payments, according to experts interviewed by RIA Novosti.

“For unscrupulous taxpayers, this news is hardly positive, but I would not say that the intensification of the exchange of customer data will have a significant negative impact on the willingness of a mass client to bring money to banks,” said the agency’s senior director for bank ratings. Expert RA “Vladimir Teterin.

Pavel Baranov, senior lawyer at Deloitte Legal in the CIS, added that he does not expect a significant flow of legal entities into cash.

Share14Tweet9ShareShare
Previous Post

Russia is building 2 universal amphibious assault ships in Crimea

Next Post

Russian FM: West is demonstrating immoral behavior towards Russian content on the Internet

Next Post
Russian Foreign Ministry spokeswoman Maria Zakharova

Russian FM: West is demonstrating immoral behavior towards Russian content on the Internet

Discussion about this post

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Active phased antenna array based on radio photonics - ROFAR

Russia completes tests of a photonic radar to search for stealth targets

August 29, 2020
Vladimir Putin said that the palace in Gelendzhik, which Alexei Navalny showed in his film, does not belong to him.

Putin commented on Navalny’s film about the palace in Gelendzhik

January 25, 2021
The official representative of the Ministry of Foreign Affairs Maria Zakharova

The video for the song of Maria Zakharova scored 18 million views on YouTube (VIDEO)

October 30, 2021
Russian President Vladimir Putin at a meeting during Valdai discussion club

Putin on Russia’s ill-wishers: We don’t want to catch a cold at your funeral

October 22, 2020
Elena Rybakina wins Wimbledon women’s singles title

Elena Rybakina wins Wimbledon women’s singles title

July 29, 2022
OnlyFans app

OnlyFans has no plans to resume service to Russian creators

July 27, 2022
Tech Giants Are Leaving The Russian Market In Droves And Striking A Blow To The Kremlin’s Economy

Tech Giants Are Leaving The Russian Market In Droves And Striking A Blow To The Kremlin’s Economy

April 2, 2022
Activists launched a website for relatives of servicemen sent to Ukraine

Activists launched a website for relatives of servicemen sent to Ukraine

March 2, 2022
Russia Daily News

Copyright © 2020 Russia Daily News.

Navigate Site

  • About Us
  • Privacy Policy
  • Contact Us
  • Submit a News Release

Follow Us

No Result
View All Result
  • Russia
  • Asia & Pacific
  • United States
  • Middle East
  • Africa
  • Europe
  • Latin America
  • Opinion
  • Submit a News Release

Copyright © 2020 Russia Daily News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT