• Service: Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 8/23/2013

Russia - Tax legislation governing reporting by banks, tax audits 

August 23: Changes to Russian tax law (enacted and officially published in No. 134-FZ (28 June 2013)) include:
  • Measures clarifying “interaction” between the tax authorities and banks with respect to bank accounts information, and establishing information to be supplied to the tax authorities when bank accounts are opened, closed, or subject to deposit changes (generally effective in 2014)
  • Rules for electronic submissions of tax documents
  • Provisions for the collection of tax from subsidiaries and parent companies
  • Procedures for verifying tax calculations and other tax audit guidance
  • Measures concerning value added tax (VAT) invoices
  • Requirements for new information to be provided by financial, insurance, investment fund management companies

Read a July 2013 report [PDF 100 KB] prepared by the KPMG member firm in Russia: Russian Legislation News (23 July 2013)

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