According to recent reports, Russia implemented a reduction in the thresholds taxpayers must meet in order to take part in the tax monitoring system in March 2020. 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 thresholds for taxpayers to take part have been reduced as follows:
- The annual sum total of taxes, including value added tax, excise tax, profits tax, a…