Russia has Signed up to the Standard for Automatic Exchange of Financial Account Information (the Co

On 30 April 2016 the Russian Government ordered the signing of the multilateral competent authority agreement on the automatic exchange of financial account information. On 12 May 2016, at the Forum on Tax Administration in Beijing, Russia signed the multilateral competent authority agreement on the exchange of financial account information, thereby joining the Standard for Automatic Exchange of Financial Account Information (Common Reporting Standard, the CRS). Joining the CRS will enable Russian tax authorities to obtain information on financial accounts held by Russian-tax-resident individuals and legal entities abroad (in jurisdictions which have also signed up to the CRS, i.e. “partner

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