The number of foreign accounts held by Russians, about which the Federal Tax Service is aware, increased 2.6 times in 2022

The number of foreign accounts held by Russians, about which the Federal Tax Service is aware, increased 2.6 times in 2022

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In 2023, the Federal Tax Service received information about 1.8 million foreign accounts of Russian residents. Their number increased by 164%. The number of account holders increased by 70%, to 539.1 thousand people.

Information on foreign accounts as of December 31, 2023 is provided in the presentation “Results of the activities of the Federal Tax Service of Russia” for the past year, which I have read RBC. The Federal Tax Service receives data as part of the automatic exchange of information with foreign countries. In 2023, the tax office received information for 2022. The Federal Tax Service previously stated that in the last two years, the exchange of information with other states has become difficult. As RBC notes, the presentation does not indicate which year was taken as the basis for comparison, but by default it should be the previous year.

The official list of the Federal Tax Service by jurisdictions with which financial information is exchanged includes 85 states and 11 territories. The list of countries that do not exchange financial information with Russia includes 102 jurisdictions.

The last time the Federal Tax Service disclosed information about the data received on the foreign accounts of Russians was in 2021. Then the service was aware of 700 thousand accounts worth more than 13 trillion rubles. 400 thousand Russians. In October 2023, Deputy Head of the Federal Tax Service Yulia Shepeleva spoke about an increase in the number of such accounts by 30% by 2020, but did not provide absolute values.

The increase in foreign accounts in 2022 may be due to the fact that Russians were looking for an alternative to the departed Visa and Mastercard in friendly countries, says B1 partner Maria Frolova.

About the government’s plans to tighten control over the foreign operations of Russian companies and individual entrepreneurs – in the Kommersant material “Following the Currency Trail”.

Leonid Uvarchev

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