Financial Organizations As Subjects Of Relations Arising From The Automatic Exchange Information
Abstract
The article examines the issue of the appearance in the national tax law of the new subjects of tax legal relations – financial market organizations. The authors highlight the similar features of the tax and legal status of financial market organizations with the rights and obligations of both banks and other tax law subjects, involved in organizing taxpayers’ registration and tax control. The main difference between financial market organizations, performing duties according to the standard of international exchange of tax-relevant information and the persons, obliged to provide information about taxpayers is that the former have to carry out the necessary and sufficient set of measures aimed at gathering reliable data about their clients. The incorporation of regulations on financial market organizations in domestic tax law is due to the fulfillment by the Russian Federation of its obligations to implement international standards of automatic information exchange for tax control purposes. The analysis of comments to international reporting standards presented in the article, made it possible to add the thesis that financial market organizations are entrusted with an active function of participating in tax control. The authors also point out that the additional function assigned to financial market organizations requires the involvement of significant material and professional resources, as stated by numerous foreign sources.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
About this article
Publication Date
20 January 2022
Article Doi
eBook ISBN
978-1-80296-121-8
Publisher
European Publisher
Volume
122
Print ISBN (optional)
-
Edition Number
1st Edition
Pages
1-671
Subjects
Civilistic Doctrine, Digital Transformation, Sociocultural Transformations, Philosophy of Law, Public Authorities
Cite this article as:
Bakaeva, O. Y., Katkova, M. A., & Sadchikov, M. N. (2022). Financial Organizations As Subjects Of Relations Arising From The Automatic Exchange Information. In S. Afanasyev, A. Blinov, & N. Kovaleva (Eds.), State and Law in the Context of Modern Challenges, vol 122. European Proceedings of Social and Behavioural Sciences (pp. 57-62). European Publisher. https://doi.org/10.15405/epsbs.2022.01.10