Expanding the access of the Federal Tax Service of the Russian Federation to banking secrecy

01.10.2020 On the website of the Ministry of Finance of the Russian Federation, the project "Main directions of budget, tax and customs tariff policy for 2021 and the planning period 2022-2023" was posted, which was submitted to the State Duma on Wednesday, September 30. According to the Cabinet of Ministers, the Federal Tax Service should be given more opportunities to obtain information about banks' clients. At the moment, the body can request information from banks about the transactions of individuals only as part of tax audits. As it is indicated in the document, the legislative regulation of the ability of the tax authorities to receive from the Bank of Russia the necessary documents and information constituting bank secrecy, as well as the ability of the Bank of Russia to receive certain information constituting tax secrets necessary for the performance of the functions assigned to it, is one of the aspects of improving tax administration. The document also provides for "expanding opportunities for tax authorities to obtain information from credit institutions necessary for tax control, as well as sending such information at the request of the competent authority of a foreign state." However, the document does not indicate what kind of information about clients the tax authorities will be able to receive. Link to sourse: https://sozd.duma.gov.ru/bill/1027743-7