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New Bill on Tax Powers Prompts Privacy Concerns
22.03.2013 22:20
New Bill on Tax Powers Prompts Privacy Concerns
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Russian deposit holders may be facing pressure from the tax authorities if new amendments on money laundering are passed into law.

      According to the text of the draft, tax officers will be aware of every account you set up, with the full information provided to the head of the federal tax agency on request and only in case of an official probe.

      This move follows another legislative initiative under the parliament's consideration aimed at expanding the powers of the tax office.

      According to the bill approved by the State Duma in first reading on February 22, the tax authorities would be get access to the complete information concerning your account even before opening a criminal case into a possible tax evasion. Only a court ruling can save your privacy. 

Author: Mikhail Vesely

Tags: Russian banks Russian tax authorities State Duma Russian laws  

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