• Українською
  • The United Kingdom has announced a freeze on tax cooperation with russia and belarus
    Ministry of Finance of Ukraine, posted 18 March 2022 10:12

    The United Kingdom is suspending the exchange of tax information with russia and belarus in response to russia's invasion of Ukraine. This statement was made public on March 17, 2022.

    "The UK is freezing tax cooperation with Russia and Belarus by suspending all exchange of tax information with them," said Lucy Frazer, Financial Secretary to the Treasury, in a written statement to Parliament.

    The suspension of tax information exchange will ensure the UK is not supplying russia and belarus with information that could lead to an increased tax benefit or yield for them, the UK official added.

    Such a move would not have a significant impact on Britain's ability to address tax evasion.

    It should noted that countries around the world have signed bilateral agreements with each other, which allow their national tax authorities to request information from other partners to combat tax evasion.