The Russian Federation’s tax authority issued an updated version of common reporting standard (CRS) guidance in the form of “frequently asked questions” (FAQs).
The updated FAQs contain an additional question related to the type of insurance organizations and insurance contracts that are required to be reported.
In addition, the tax authority issued an updated list of the types of organizations that must be classified as financial market organizations. The list has been updated to include “insurer exercising insurance activities excluding voluntary life insurance” under the type of organizations.
Read a December 2019 report [PDF 88 KB] prepared by KPMG LLP
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