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UK suspends tax co-operation with Russia

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Financial Secretary to the Treasury, Lucy Frazer, has announced that the UK is freezing tax co-operation with Russia and Belarus by suspending all exchange of tax information with effect from 17 March 2022, as part of the UK’s wider response to the Russian invasion of Ukraine.

The UK exchanges tax information with Russia under the convention on mutual administrative assistance in tax matters, and with Russia and Belarus under bilateral double tax agreements.

Suspending exchange of tax information means that Russia will not receive information under any of the UK’s exchange of information agreements: Exchange of information on request (EoIR), common reporting standard (CRS) or country-by-country reporting (CBCR).

Belarus has not signed up to the CRS or CBCR, so only EoIR information is being suspended.

Issue: 1569
Categories: News