The Federal Tax Service (FTS) has actively undertaken to check Russians with foreign accounts, writes RBC with reference to several tax consultants.
According to the interlocutors of the publication, the number of on-site inspections appointed by the tax authorities increased sharply at the end of 2020. Experts attribute this to the expiration of the three-year data verification period established by law for 2017.
It was then that the FTS first received data from foreign colleagues as part of the automatic exchange of financial information under the auspices of the Organization for Economic Cooperation and Development (OECD). This information is processed by the specialized system “Tax-3” in order to conceal foreign income and assets of Russians, as well as the profits of foreign companies controlled by them (CFC).
As of the beginning of 2021, Russians have about 700 thousand open accounts in foreign banks. The total balance on them is 13 trillion rubles.