14 May 2013

Anton Siluanov: G20 member states collaborate to fight tax evasion

Speaking at the State Duma hearings devoted to the main directions of the taxation policy in 2014-2016, Finance Minister Anton Siluanov noted that preventing tax evasion is a crucial issue for nearly every country in the world.

Indeed, within the G20 process there is a collaborative work for coordinating efforts to avert tax evasion. "We support the initiative of the EU countries on concluding agreements with offshore areas to ensure the automatically disclosure of the bank account details for Russian companies and individuals, as well as Russian beneficiaries such as trusts, funds and other offshore companies," the Minister said. "We believe it is necessary to support the efforts of the OECD in developing a multilateral international regulation for the automatic exchange of tax information and imposing the sanctions on the jurisdictions violating transparency rules."

Anton Siluanov also said that Russia plans to exchange on tax information with other countries. "One of the main provisions is the participation of Russian tax authorities in related tax operations abroad and in the process of disclosure of information about residents and their bank accounts. We are discussing this issue in the G8 and G20," the Minister added.