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Tags: irs tax information exchange with russia suspended

US Treasury Suspends Tax Info Exchange With Russian Authorities

IRS
(Dreamstime)

Tuesday, 05 April 2022 11:35 AM EDT

The U.S. Internal Revenue Service has suspended information exchanges with Russia's tax authorities in a bid to hamper Moscow's tax collections and reduce funds available for its invasion of Ukraine, the Treasury Department told Reuters Tuesday.

Under a 30-year-old tax treaty, the IRS and Russia's Federal Tax Service have cooperated to share information to aid domestic tax collections and enforcement of tax laws in both countries. The IRS can request information about U.S. taxpayers from Russian authorities and vice-versa.

The Treasury said that it has not shared any tax information with Russian authorities since Russia's invasion of Ukraine began on Feb. 24, but the action disclosed on Tuesday formalizes the suspension.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
The U.S. Internal Revenue Service has suspended information exchanges with Russia's tax authorities in a bid to hamper Moscow's tax collections and reduce funds available for its invasion of Ukraine, the Treasury Department told Reuters Tuesday.
irs tax information exchange with russia suspended
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2022-35-05
Tuesday, 05 April 2022 11:35 AM
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