On 29 May, Head of the Federal Tax Service of the Russian Federation Daniil Yegorov chaired the Meeting of Heads of BRICS Tax Authorities via videoconference.
The meeting focused on economic support measures for taxpayers and providing services during the COVID-19 pandemic.
Daniil Yegorov noted that the crisis caused by COVID-19 has accelerated the digital transformation of state management and public services. Thus, the Russian Federal Tax Service gave an example of already implemented projects for the remote provision of tax services, such as tax monitoring that allows tax authorities to have online access to companies accounts and transactions, a blockchain platform for cooperation with banks and companies that apply for a preferential loan, as well as an online service to receive subsidies to pay salaries to employees of companies affected by the pandemic.
«The entire cooperation process starting from submitting an application to receiving payments is organized via this service. Employers can monitor the application status in their personal account. It usually takes no longer than two or three days. More then 600,000 Russian taxpayers have already received a total of 31 billion roubles in subsidies,» Daniil Yegorov noted.
Representatives of BRICS Tax Authorities also discussed the prospects of taxation of the digital economy, as well as practical issues of the automatic information exchange mechanism. They also shared their experience in countering the grey economy.
«The automatic information exchange is another multilateral tool to combat tax evasion. It is necessary to further develop this initiative and improve the quality of data, including 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 the parties involved,» Daniil Yegorov said.
Heads of BRICS Tax Authorities have summarized the main outcomes of the meeting in the final communique.
Official website of the Russian BRICS presidency: https://eng.brics-russia2020.ru/allnews/