News
The FTS of Russia presented its flagship solutions supporting business processes in tax administration, including the Analytical VAT Platform, the Online Cash Registers System, and the special tax regime for self-employed, to the Barbados delegation headed by Ryan Ricardo Straughn, Minister of Finance and Economic Affairs of Barbados, at the Ministry of Finance of the Russian Federation.
“Russia’s experience in tax administration and the use of IT solutions is actively adopted and applied by our foreign partners, including Uzbekistan, Kyrgyzstan, and Saudi Arabia. The practical solutions of the Federal Tax Service help improve revenue collection, reduce unjustified deductions, and make the tax payment process as fast and convenient as possible for taxpayers,” stated Anton Siluanov, Minister of Finance of the Russian Federation.
Alexander Egorichev, Deputy Commissioner of the FTS of Russia, noted that the Service’s digital transformation has enabled it to accumulate extensive experience both in developing convenient services for citizens and in creating sophisticated analytical tools for the state. “We are ready to share this experience through technical assistance projects in a spirit of partnership and mutual respect. I am convinced that today’s meeting will be an important step toward strengthening and expanding mutually beneficial cooperation between our authorities,” he emphasized.
Alexander Egorichev also demonstrated the Analytical VAT Platform to his colleagues. It is an analytical risk management tool that automatically matches invoice data from VAT returns. The system identifies discrepancies between buyers’ and sellers’ transactions, significantly reducing the time required for tax control activities. By reducing human intervention, it improves the efficiency of tax authorities and strengthens tax compliance. The FTS of Russia also applies VAT taxpayer risk profiling. Partial automation of desk VAT audits is currently in use, along with an information and analytical dashboard for tax inspectors.
The Online Cash Registers System contains primary real-time source data on all retail transactions. It makes it possible to visualize all points of sale and view the individual items included in each receipt. Based on the data collected, the system identifies taxpayers that violate cash register requirements. The accumulated data are also used to analyze macroeconomic indicators and to take prompt, targeted measures in public administration.
The Barbados delegation was also shown how the special tax regime for self-employed works. It exempts taxpayers from tax reporting requirements and enables remote interaction with tax authorities through a mobile application.
The Barbadian side confirmed its strong interest in further exploring the digital services and technological solutions of the FTS of Russia and supported efforts to strengthen cooperation and promote the effective development of national tax administration systems. Ryan Ricardo Straughn emphasized that Barbados welcomed the opportunity to meet and learn from Russia’s experience. “We would like to explore opportunities that could help expand the tourism sector and bilateral trade with the Russian Federation. We are confident that the implementation of technological solutions will make our market stronger and that digital solutions can help us achieve this,” he noted.
