Updating the “Open Data” service

LEGAL DIGEST \ 20.10.2019

On its official website, the Federal Tax Service (the “FTS”) has updated the information regarding the income and expenses of companies based on their 2018 financial statements. The information is posted on the FTS’s website in the “Open Data” section. Previously, the FTS disclosed a company’s information broken down into the following groups of data:

– average headcount;

– special tax regimes;

– the company’s participation in a consolidated group of taxpayers. 

To find out necessary information regarding a company, one should select the sets of data of interest, download archive data and find information relating to a specific company by using its taxpayer’s identification number (referred to as ‘INN’ in Russian).

Using the posted data helps to enhance protection when you choose business partners and assess their reliability. For this particular purpose, the FTS has launched the “Transparent Business” service  which simplifies the process of checking your counterparties given that the service contains the following information regarding:

• companies’ identification details;
• the main line of business and the issued capital;
• the company’s address and whether there is information that it is inaccurate;
• whether information about the company’s managers is inaccurate;
• the ‘large-scale’ involvement of the management bodies in other companies;
• the company being included in the Unified Register of Small and Medium-Sized Business Entities;
• announcements published in the journal “The Bulletin of State Registration”, e.g. regarding the onset of a liquidation process.

When a user utilizes the service, such user can obtain information from the following official sources:

– from the Unified State Register of Legal Entities;

– from the Register of Disqualified Persons;

– from the Unified Register of Small and Medium-Sized Business Entities;

– from the State Register of Accredited Branches and Representative Offices of Foreign Entities.

Please contact Acsour’s specialists to learn how the FTS’s services can be utilized to check the reliability of your counterparties.