UK suspends the exchange of tax information with Russia
21 March 2022
In a statement made by Lucy Frazer, financial secretary to the Treasury, on 17 March 2022, it was announced that Russia and Belarus would be frozen out of UK tax cooperation. Previously the UK would exchange tax information under the Convention on Mutual Administrative Assistance in Tax Matters with Russia and Belarus under bilateral Double Tax Agreements. This is done to address tax compliance concerns and areas for risk.
The following agreements have been suspended for Russia:
• Exchange of Information on Request (EoIR)
• Common Reporting Standard (CRS)
• Country-by-country Reporting (CBCR)
Belarus does not partake in the CRS or CBCR, therefore only the EoIR has been suspended.
This forms part of the wider UK response to the Russian invasion of Ukraine. With these restrictions stopping the supply of information that could result in increased tax benefit for Russia or Belarus.
This is not expected to impact the UK’s ability to address non-compliance.
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