The Federal Tax Service to Receive Legal Authority to Assess the Financial Standing of Legal Entities
The Ministry of Finance has submitted a draft law to the government that grants the Federal Tax Service (FTS) the authority to assess the financial and economic condition of legal entities. The amendments to the Law “On Tax Authorities” have been developed accordingly.
The assessment service, which has been operating in pilot mode since March 2023, may now be scaled up. It allows companies to confirm their reliability to counterparties.
The FTS will be authorized to approve assessment methodologies, generate evaluation results, and provide them upon request either to the companies themselves or to third parties—if such provision is allowed by law or government regulations.
The law is expected to come into force six months after its official publication. During this period, the FTS will approve the procedure for conducting the assessment. To date, more than 63,000 companies have used the service.
