MULTILATERAL COMPETENT AUTHORITY AGREEMENT ON AUTOMATIC EXCHANGE OF FINANCIAL ACCOUNT INFORMATION
Organization for Economic Co-operation and Development (the «OECD») has developed the Common Reporting Standard (the «CRS») to prevent global tax deviation using Offshore Structures to ensure transparency of the information.
12 May 2016 the Federal Tax Service of Russia on behalf of the Competent Authority of the Russian Federation declared that it agrees to comply with the provisions of the multilateral Convention on Mutual Administrative Assistance in Tax Matters from 2018 and exchange information from the year 2017 onwards.
At present, the Tax Code of the Russian Federation complemented with the Federal Law of 11/27/2017 number 340-FZ whereby Russian financial institutions are required to identify the customers of the foreign states/territories and provide the information regarding the clients’ accounts and follow related due diligence procedures to the Federal Tax Service of Russia. The clients, in turn, are obliged to give the necessary information upon request from financial institutions.
SberBank of Russia doesn’t provide any advisory services concerning the basis of tax residence, as required by FATCA/CRS. On this issue one can refer to a tax consultant or to the information for all the countries given by the OECD.
In order to confirm your tax residence, SberBank officers may pose follow-up questions and ask you to fill in the self-certification form.
The Questionnaire for tax residence confirmation – individuals/private entities
The Questionnaire for tax residence confirmation – legal entity/individual entrepreneur