EXCLUSIVE U.S. suspends tax information exchange with Russian authorities

Russian and U.S. flags are pictured before talks between Russian Deputy Foreign Minister Sergei Ryabkov and U.S. Deputy Secretary of State Wendy Sherman at the United States Mission in Geneva, Switzerland January 10, 2022. REUTERS/Denis BalibouseRegister now for FREE unlimited access to Reuters.comWASHINGTON, April 5 (Reuters) – The U.S. Internal Revenue Service has suspended information exchanges with Russia’s tax authorities in a bid to hamper Moscow’s tax collections and reduce funds available for its invasion of Ukraine, the Treasury Department told Reuters on Tuesday.Under a 30-year-old tax treaty, the IRS and Russia’s Federal Tax Service have cooperated to share information to aid domestic tax collections and enforcement of tax laws in both countries. The IRS can request information about U.S. taxpayers from Russian authorities and vice-versa.The Treasury said that it has not shared any tax information with Russian authorities since Russia’s invasion of Ukraine began on Feb. 24, but the action disclosed on Tuesday formalizes the suspension.Register now for FREE unlimited access to Reuters.comReporting by David Lawder Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.