Permissible Restrictions of Bank Secrecy for Tax Control Purposes in the Legal System of the Russian Federation

The article deals with the relationship between bank secrecy and tax transparency. It studies the issues of confidential information (which forms bank secrecy) being presented to tax authorities, also including the principle of providing information on request and automatic data provision within the framework of the Common Reporting Standard. The comparison of bank secrecy and tax transparency is carried out from the viewpoint of its value for the society, state, and individuals. It is noted that the expansion of bank secrecy access for tax authorities can be used not only in tax control, but also to simplify the taxpayers’ payment procedure and other benefits connected with the confidential information, or bank secrecy. The given research paper analyses the problem of broad exemptions from the banking secrecy regime in tax control. The analysis is based on the axiological approach and comparative legal research method based on the analysis of bank secrecy restrictions in the legal systems of Switzerland, Singapore and Russia. The scientific task is to determine the conditions and the necessary degree of bank secrecy restrictions in tax control.