Russia Ratifies OECD’s Multilateral Tax Pact
The Government of Russia has ratified the Organization for Economic Cooperation and Development’s Convention on Mutual Administrative Assistance in Tax Matters.
The OECD said, with this development, Russia has joined the most comprehensive multilateral platform available for tax co-operation and exchange of information. The Convention, as amended by the 2010 Protocol, will enter into force in Russia on July 1, 2015.
According to the OECD, the Convention helps counter cross-border tax evasion and ensures compliance with national tax laws, while respecting the rights of taxpayers. Among signatory countries, the agreement enables various kinds of administrative assistance in tax matters, such as the exchange of information; simultaneous tax examinations and participation in tax examinations abroad; assistance in tax claim recovery; and the service of documents.
The Convention was developed jointly by the OECD and the Council of Europe, and has been open to all countries since June 1, 2011. As of March 13, 2015, it has entered, or is due to enter into force in 63 countries.