Russia may include Canada in list of countries not exchanging tax data

YEREVAN, August 12. /ARKA/. Russia's Federal Tax Service (FTS) has proposed to include Canada in the list of countries which do not exchange tax data, reported forbes.ru.

Inclusion of Canada in this list would mean that it would be more difficult for Russian tax authorities to track down information about the income of Russian individuals and companies they control in Canada, said Frank RG.

Based on changes in the international regulatory framework and the exchange of tax information with specific countries Russia’s FTS annually reviews the list of states that do not exchange fiscal data with it. Now the list includes 98 states and 18 territories, including such countries as Afghanistan, Costa Rica, the Dominican Republic, Haiti and Iraq. 

According to the draft decision of the FTS, next year the register will include 90 states and 17 territories. At the same time FTS proposed to exclude nine countries from the list -Barbados, Bahrain, Colombia, Costa Rica, Ecuador, Nigeria, Pakistan, Saint Lucia and Uruguay and Gibraltar.

After the start of Russia's ‘special operation’ in Ukraine, some Western countries, including the United States, Germany and the United Kingdom, suspended the exchange of tax data with Russia and Belarus. Exchange of tax data is used, in particular, to avoid double taxation. -0-