Participants of High-Level Virtual Conference of the Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACOM) discussed future trends of digital tax transformation

The Federal Tax Service of Russia

Published: 31.12.2020 12:01

Deputy Commissioner of the Federal Tax Service of Russia Dmitry Volvach has recently participated in the High-Level Virtual Conference of the Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACOM). He talked about the future trends of further digital transformation development of the FTS of Russia.

The FTS strives to build a seamless tax administration. “The digital identification of taxpayers and electronic document flow create a framework for the whole-of-government approach. The same principle is incorporated in the analytical tools used by tax inspectors, when all the data on the taxpayers’ activity is consolidated in a single point”, noted Dmitry Volvach.

The challenges brought to us by pandemic were discussed during the conference as well. It was pointed out that the pandemic has become the additional driver of the digital transformation of government authorities, including tax administrations.

“The FTS of Russia has successfully demonstrated the practical effect of using Big Data during the period of restrictive measures. The Service's capabilities were quickly deployed to assist the affected sectors of the economy: to help businesses as well as to pay child benefits,” recalled Dmitry Volvach. In particular, more than 655 billion rubles was paid in subsidized loans approved by banks via blockchain platform created by the Federal Tax Service of Russia.

At the end of his speech, Dmitry Volvach emphasized the importance of the Eurasian Economic Union and the "One Belt - One Road" initiative integration plans.

“Building coherence and synergy between Eurasian Economic Union and “One Belt, One Road” initiatives could accelerate recovery and growth of the participating countries’ economies and create valuable opportunity to improve tax administration across these countries” stressed Dmitry Volvach.

The High-Level Virtual Conference was chaired by the head of the BRITACOM Council, Mr Wang Jun.

Mr Vitor Gaspard, the Director of the Fiscal Affairs Department of the International Monetary Fund, Mr Marcello Estevao- World Bank’s Director of Macroeconomics, Trade and Investment and Mr Pascal Saint-Amans, the Director of the Centre for Tax Policy and Administration of the Organization for Economic Cooperation and Development have also joined this Conference.


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