UK suspends the exchange of tax information with Russia and Belarus
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- Last Updated on 24 March, 2022
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News, dated 23-03-2022
The Financial Secretary to the Treasury of the United Kingdom (UK), Lucy Frazer, has announced that the UK is freezing tax cooperation with Russia and Belarus. The UK is suspending all exchange of tax information with Russia and Belarus as part of the UK’s wider response to the Russian invasion of Ukraine.
The UK exchanges tax information with Russia under the Convention on Mutual Administrative Assistance in Tax Matters and Belarus under bilateral Double Tax Agreements. Tax information is exchanged as part of the collaboration to address tax compliance risks.
The Financial Secretary has stated that it is not appropriate that the UK undertake cooperation that would lead to the economic benefit of Russia or Belarus, who have aided and abetted Russia.
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