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Russia approves bill to ratify OECD Convention on Mutual Assistance in Tax Matters

May 30, 2014, 14:45 UTC+3 MOSCOW
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MOSCOW, May 30. /ITAR-TASS/. Russia’s government has approved a draft law “On the Ratification of the Convention on Mutual Administrative Assistance in Tax Matters”.

The document has been developed in pursuance of the instructions given by the president and the government on Russia’s joining the Organization for Economic Cooperation and Development (OECD).

The countries, which signed the Convention, will render administrative assistance to exchanging information, collecting taxes and conducting tax inspections.

The document will help step up cooperation with foreign countries in combating tax avoidance and allow Russia to take part in tax inspections abroad.

Russia signed the Convention in 2011. The government has discussed the ratification of the document since January 2014. The Convention is designed to get information from taxpayers for fighting offshore tax avoidance and evasion. Over 60 countries signed the Convention and at least 30 states ratified it.

Russia is not a member of the OECD. The OECD accession talks have been held since 2007. Russia and the OECD maintain cooperation in basic fields.

In January 2014 head of the Russian Federal Tax Service Mikhail Mishustin was elected vice-chairman of the OECD’s Forum on Tax Administration. The OECD Forum on Tax Administration was set up to develop a dialogue between tax administrations.

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