The Federal Tax Service Can Track Transfers Without Prior Verification

The Federal Tax Service may gain the right to track transfers without prior verification.

Here’s the news. Alfa Defense, a legal assistance service for affiliates, has prepared a post for Highroller explaining the news along with their own commentary on what to do with P2P transfers. I pass the word to Alfa Defense ↓

Two bills expanding the exchange of information between the Federal Tax Service and the Bank of Russia were recently approved by a government commission.

The aim of the initiative is to identify payments for compensated transactions between individuals that are disguised as ordinary transfers to cards, accounts, and electronic wallets. Currently, such income is effectively «beyond tax control».

According to the bills, the Bank of Russia will provide the Federal Tax Service with information about individuals who meet the «criteria for conducting entrepreneurial activities».

In such cases, the tax authority will be able to request additional data about citizens’ accounts and transactions without conducting an audit. The Federal Tax Service will also provide more information to the Bank of Russia, including details about accounts, electronic payment methods, and income categories.

Explanation from Alfa Defense:

Any regular income from individuals who are not relatives will become «suspicious» for banks and tax authorities. This is especially true for P2P transfers: there have already been significant difficulties with them, and now their operation is becoming nearly impossible.

In practice, this means that income on which tax has not been paid may raise questions from the Federal Tax Service. It is important for conscientious citizens to maintain transparent records of income and comply with tax obligations. The new rules encourage a shift to legal schemes and a reduction in operations in the «gray zone».

Conclusion: if this bill is passed, P2P transfers may only exist in memory.

Source of the news