The Russian tax authorities say they are nearing a major cooperation deal with several big companies in a bid to boost transparency and boost confidence.

The move will follow the best European practices initiated in the Netherlands in 2006 when corporations work together with the tax agencies providing them all the necessary documentation in advance and in return getting a precise estimate of the tax burden they'll incur and – what’s even more important at times – no inspections. This last rule is not fixed in the deal but that’s the international practice and that’s the way it will be in Russia, say sources within the tax authorities.

So far, MTS and RusHydro have confirmed they are ready to swap more openness for simplified procedures expecting to save on resources annually invested into book-keeping and legal defense.

Sources: http://www.vedomosti.ru