The Ministry of Finance has prepared a draft law to expand data exchange between the Federal Tax Service (FTS) and the Bank of Russia. The goal is to determine the income of citizens received through transfers from other individuals. The document was submitted to the government, along with it I got to know you “Vedomosti”.
Now transfers between citizens are generally not subject to tax, because they are officially considered free receipts. However, in practice, these “gifts” are often disguised as payments for transactions – for example, for rental housing, as mentioned in the explanatory memorandum to the bill.
The document assumes that the Federal Tax Service will transfer information received from banks to the Central Bank, and the Central Bank will be able, based on this data, to compare the map of a person’s financial assets with the flow of his transactions and identify anomalies.
The main identifier in the data exchange will be the Taxpayer Identification Number (TIN). This will make it possible to link information about accounts, transactions and income of one person in different systems, Vedomosti wrote.