A new list of foreign states with which automatic exchange of country reports is carried out has been published. The updated list includes 67 countries and 8 territories, excluding Switzerland and the Cayman Islands and including Tunisia.
In connection with Russia joining the international automatic exchange of information for the purposes of tax control, the Tax Code of the Russian Federation (Chapters 14.4-1) sets out the rules for submitting documents on international groups of companies by its participants, as well as the procedure for exchanging country reports in accordance with international obligations.
International group companies are required to submit annual country reports for the previous financial year. At the same time, members of an international group of companies have the right not to submit a country report if the parent company reports in a country with which Russia has an automatic exchange of such reports. For this, a list of countries with which the automatic exchange of country reports is carried out is maintained.
In December 2022, the Federal Tax Service also excluded Switzerland and the Cayman Islands from the list of countries with which automatic exchange of financial information is carried out. You can read an update of the Nadmitov, Ivanov & Partners Law Firm on this topic at the link: https://nplaw.ru/blog/detail/obnovlen-perechen-stran-s-kotorymi-osushchestvlyaetsya-avtoobmen-finans...
The law firm "Nadmitov, Ivanov and Partners" provides tax support services and advises on CFC issues, foreign accounts and currency law.
Tel.: +7 (495) 649-87-12Order of the Federal Tax Service of December 20, 2022 No. ED-7-17/1226@ "On approval of the list of foreign states (territories) with whose competent authorities automatic exchange of country reports is carried out" https://www.garant.ru/hotlaw/federal /1605594/