OREANDA-NEWS   Starting from 2027, the Bank of Russia and the Federal Tax Service (FTS) plan to expand the exchange of data on transactions on accounts of individuals who are not sole proprietors in order to identify signs of entrepreneurial activity, and departments will identify indicators of such risks, State Secretary to the Deputy Finance Minister of the Russian Federation Alexey Sazanov told reporters.

"This will work from 2027, it is an automatic information exchange between the Central Bank and the Federal Tax Service of Russia regarding account transactions, where risk indicators will work," Sazanov replied to a question about the timing of the launch of an expanded exchange of information between the Central Bank and the Federal Tax Service on transactions on individual accounts.

The regulator and the Federal Tax Service will determine the indicators of the risk of doing business, Sazanov added. "They will determine where they will look for signs of entrepreneurial activity," he said.

Earlier in March, a RIA Novosti source reported that the government commission on legislative activity approved a bill according to which the Bank of Russia will inform the Federal Tax Service about accounts of individuals with signs of entrepreneurial activity.

The draft law proposes to amend Part one of the Tax Code of the Russian Federation. For example, the Bank of Russia may send information to the tax authorities about individuals whose account transactions show signs of entrepreneurial activity or income from other individuals. The tax authorities will have the right to request statements on the accounts of such persons in other banks outside the scope of inspections.
Thus, the authorities want to strengthen the identification of bank account holders and expand control over non-cash incomes of individuals.