Belarus, Russia to launch payment information exchange system in March - Belarusian finance minister

MINSK. Jan 16 (Interfax) - Belarusian Finance Minister Yury Seliverstov has announced the upcoming launch of the Belarusian-Russian supranational tax committee.

"Our colleagues from the Ministry of Taxes and Duties and their Russian colleagues have developed and tested this system [to exchange information about taxes, payments and charges]. It necessary to launch the system in March and to start the exchange of relevant information. This is what has been discussed with the head of state - the establishment of a joint, supranational collegial tax committee this year. A detailed algorithm of this work has yet to be formalized and spelled out," Seliverstov said on the Belarus 1 state-run television channel.

"The work on the tax agreement is a bit behind schedule, as the task was supposed to be accomplished last year. No buildings, no upkeep, no funding needed. We need an algorithm on how to act if any adjustments to the rates and conditions of the agreement are necessary," he said.