Russia’s tax agency will publish publicly available information by July, 2017

June 1 2016 Federal Act № 134-FZ «About the amendments in Article 102, Part 1 of the Tax Code of the Russian Federation» entered into force. Under the Act, before July 1, 2017 information about companies, which is not tax secret any more will be published in the web site of Russia’s Federal Tax Service.

Now companies are obliged to report data about average number of employees per year, about the income and expenses of a company, about increased taxes and fees, about arrears in fees and fines.

State secret information shall not be published.

Access to open data in the web site of Federal Tax Service shall be free. Except for cases prescribed by Federal Acts, the indicated information is not disclosed at the request.

What is the publication of such information used for? Due to this information, taxpayers will be able to assess risks while working with a counterparty.

Source:

https://www.nalog.ru/rn50/news/tax_doc_news/6097185/