Russia Issues Draft CRS Guidance and Implementation Legislation

Nicolette Chasse
October 25, 2017

The Russian Duma has drafted preliminary legislation to comply with CRS through guidance notes and implementation notes.  The law underwent its first reading in the Duma on September 20, 2017.  The approximate date of the second reading is October 19, 2017.  It is currently expected that the law will enter into force on January 1, 2018, so as to comply with Russia's CRS late adopter status. 

 The Duma has also released an explanatory note, detailing that the legislation is intended to amend the Tax Code of the Russian Federation.

 To read the draft legislation, please follow this link (downloads as Word document).

To read the explanatory note, please follow this link (downloads as Word document).

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Nicolette Chasse

Nicolette Chasse is a Junior Regulatory Counsel at Sovos Compliance. Her main areas of focus are Automatic Exchange of Information (AEOI) reporting under FATCA and CRS and 1099 Federal Withholding Reporting. Nicolette received her B.A. at Trinity College and her J.D. at Penn State’s Dickinson School of Law. She is a member of the Massachusetts Bar.
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