Russia hid its financial partners from the OECD
[ad_1]
Russia became the only country that did not report information on the number and composition of countries with which it exchanged tax and banking information in 2021 under the Common Reporting Standard (CRS) with the Organization for Economic Cooperation and Development (OECD) . This is stated in the annual report of the OECD, published on November 9, 2022. Russia joined the CRS on January 1, 2018 and at the same time began to share its information with tax authorities in other countries. According to the OECD, in 2018 Russia established exchanges with 50 other states, by 2020 their number has grown to 69.
The CRS standard was approved back in 2014, and about 100 countries have pledged to implement it. Almost all of them fulfilled their obligations, the OECD pointed out in 2019. They did not join the mechanism of the United States, which back in 2010 adopted its own Foreign Account Tax Compliance Act (FATCA).
[ad_2]
Source link
