According to a release from Russia's Federal Tax Service (FTS), the FTS and the Ministry of Finance are working on a reduction in 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 proposed thresholds for taxpayers to take part include:
- The annual sum total of value added tax, e…