Banks and brokerage organizations in Armenia have started requesting information about tax residency from Russian clients. This was reported by Zamin.uz.
This process is being carried out within the framework of automatic information exchange with Russia. According to officials, Yerevan will provide the first data to Moscow in September of this year based on the results of 2024.
Through this, the Russian tax service will be able to monitor the incomes and assets of citizens who have opened accounts in Armenia. Currently, Armenia is considered one of the most popular countries among Russians for opening foreign bank accounts.
This trend is expected to intensify further in the coming months. This situation indicates strengthening financial cooperation and tax control between Russia and Armenia.
The process of requesting information by banks leads to the disclosure of clients' financial status, which helps ensure compliance with tax legislation. Additionally, this is an important step aimed at strengthening mutual trust and preventing illegal financial flows.
The Armenian government and financial authorities are working to further improve this process and create convenience for clients. Therefore, bank clients must provide clear and complete information about their tax residency status.
This will be of significant importance in preventing financial disputes and problems in the future.
