Tax authorities of the EAEU countries will exchange information on new standards

Amendments to the Protocol on the Exchange of Information in Electronic Form between the Tax Authorities of the Member States of the Eurasian Economic Union on Indirect Taxes Paid dated December 11, 2009 have entered into force.

In accordance with the innovations, exchanges between the tax authorities of the Eurasian “five” countries are now carried out every week (previously there was a ten-day frequency). Also, the period for exchanging format and logical control protocols has been reduced from three to one working day. In addition, the Protocol is supplemented with requirements to the composition and structure of information in electronic form on the amounts of indirect taxes.

According to Bakhyt Sultanov, Minister in charge of Economics and Financial Policy of the Eurasian Economic Commission, the changes are aimed at increasing the efficiency of information exchange between tax authorities, the effectiveness of tax control and the quality of the collected evidence base on the legality of taxpayers applying the zero rate on value added tax (exemption from excise taxes).

“New measures will speed up confirmation of the fact of export of goods by participants in mutual trade, payment of indirect taxes and the application of a zero VAT rate,” the Minister said.