According to a recent update published by Russia's Federal Tax Service, Russia will sign the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial Account Information on 12 May 2016. The MCAA is part of the Common Reporting Standard developed by the OECD. Once signed by Russia, it will need to be ratified before entering into force in the country.
To date, 80 jurisdictions have signed the MCAA, with each committed to begin the exchange of financial account inf…