Russia published Law No. 259-FZ in the Official Gazette on 8 August 2024, which reduces the thresholds taxpayers must meet in order to take part in the tax monitoring system. The system allows for the exchange of information between taxpayers and the tax authority and exempts taxpayers from desk and field audits in most cases, among other benefits. The reduced thresholds for taxpayers to take part include:
- Total annual income must be at least RUB 800 million (down from RUB 1 billion);
- Total …