Tax authorities of Russia and China sign memorandum of understanding

MOSCOW. April 21 (Interfax) - Russia's Federal Tax Service and the State Tax Administration of the People's Republic of China have signed a memorandum of understanding that envisages exchanging digital transformation experience, implementing training programs, and coordinating work at the international level.

Daniil Yegorov, Director of Russia's Federal Tax Service, and Hu Jinglin, Yegorov's Chinese counterpart, signed the document in Beijing during a visit by a delegation from the Russian tax service.

The meeting participants discussed key areas of digital transformation in tax administration. The Chinese side presented the Golden Tax project and a smart taxation system based on cloud technologies, artificial intelligence, and interdepartmental exchange of data. The Russian side presented its own digital solutions, including a single tax account, an automated simplified taxation system, and the development of electronic document management.

"Our goal is to convert the maximum volume of business transactions into electronic form, which should improve transparency, administrative efficiency, and reduce the administrative burden on businesses," Yegorov said.

The meeting participants also discussed establishing a permanent tax secretariat and an additional data exchange system within BRICS, as well as developing tax cooperation within the Belt and Road Initiative (BRITACOM).