The Federal Tax Service of Russia
Published: 21.01.2021 17:35
The Heads of Tax Authorities of the BRICS countries met virtually under the chair of Daniil Egorov, Commissioner of the Federal Tax Service of Russia.
A key topic of the meeting was support measures for the taxpayers during the COVID-19 pandemic. Participants shared their experiences on economic support measures and new services for the taxpayers implemented in unprecedented circumstances. Daniil Egorov noted that the COVID-19 crisis had accelerated the digital transformation of state management and public services.
In the last few years the Federal Tax Service of Russia has been paid special attention to the digital delivery of tax services. Several projects have been implemented. One of them is tax monitoring that provides tax authorities an online access to companies’ accounting records and enables to monitor transactions. Due to the technology, a shift from full tax audit to joint risk assessment became possible. The system covers more than one third of tax revenue. The project will be expanded in the future.
Besides, FTS of Russia established a block chain platform for cooperation with banks and companies, which apply for an incentive loan. The process is streamlined for the convenience of all participants. The Federal Tax Service of Russia also provides an online service for the companies affected by the pandemic to receive subsidies.
“This service covers the entire cooperation process starting from submitting an application to receiving payments. Employers can monitor the application status in their personal account. It usually takes no longer than two or three days. More than 600,000 Russian taxpayers have already received about 31 billion rubles in subsidies”, Daniil Egorov noted.
Representatives of BRICS Tax Authorities also discussed the future of the digital economy taxation, as well as practical issues of the automatic exchange of information. They also shared their experience on countering shadow economy.
“The automatic exchange of information is one of the multilateral tools to combat tax evasion. It is necessary to further develop this initiative and improve data quality, as well as include other types of information in the data exchange that affect tax revenues. These mechanisms can only be effective if they are developed and used taking into account the interests of all stakeholders”, Daniil Egorov emphasized.
Main outcomes of the meeting was summarized in the final Communique of the Heads of BRICS Tax Authorities.
Jose Barroso Tostes Neto, Secretary of the Federal Revenue Service of Brazil; Ajay Bhushan Pandey, Finance Secretary of India; Wang Daoshu, Chief Economist of State taxation administration of the People’s Republic of China; Edward Kieswetter, Commissioner of the South African Revenue Service took part in the meeting.