Siluanov wants to discuss FATCA agreement with U.S. during visit to Washington
MOSCOW. April 1 (Interfax) - Russian Finance Minister Anton Siluanov said he expected to discuss the issue of the Russian-U.S. agreement on the Foreign Account Tax Compliance Act (FATCA) during his visit to Washington planned for April 9-11.
"Of course, I would like to do this [to discuss the agreement]," Siluanov told reporters in Moscow.
FATCA is a new U.S. law obliging banks in other countries to release information on accounts of U.S. taxpayers to U.S. tax service.
The plans to sign the agreement between Russia and the U.S. on mutual exchange of information remain in force despite the U.S. introducing sanctions regarding a number of citizens and Rossiya Bank, Siluanov said last week.
"Everything will be fine. At least, we will ensure all necessary actions so that our bank can provide information on U.S. taxpayers," he said.
If the agreement is not signed, and banks do not receive a relevant registration number by July 1, 2014 and are not recognized as FATCA participants, sanctions could be applied against them.
The United States is delaying the signing of the agreement as a "silent sanction" against Russia, the Vedomosti newspaper reported on Tuesday citing sources.