According to new regulations, such companies are now required to disclose all their sources of income and foreign currency transactions. This information will be transmitted to the Tax Service as part of a unified system for exchanging financial data.
These measures are aimed at increasing transparency in business and combating offshore schemes. Essentially, enterprises working with foreign counterparties will be required to provide tax authorities with more detailed reporting on each foreign economic contract.
According to the government, such initiatives are part of a strategy for deoffshorization and the digitalization of tax administration.
