HMRC no longer provides information to the Federal Tax Service of Russia about British assets of Russian citizens
The UK authorities decided not to share CRS (Common Reporting Standard) tax data with Russia. The automatic exchange of tax information between countries has been stopped since 2019. Russia joined the international agreement of auto exchange of tax information in September 2018. The decision of the UK to stop the exchange means that the Russian Federal Tax Service will not receive information for 2018. Previously, the Federal Tax Service was receiving data about assets of Russian citizens, including cash flow for the year, investment income, earnings from the sale of shares, interest on deposits, bonds and other information.
Posted on Mar 28, 2019.