OREANDA-NEWS Following the meeting on the development of the tax monitoring system held on February 13, Prime Minister Dmitry Medvedev instructed the Ministry of Finance to work out the possibility of expanding the practice of using this system.

The Prime Minister's instruction States that the Ministry of Finance and other interested Federal Executive bodies should prepare proposals for the further development of this system.

"Including expansion of practice of application of tax control in the form of tax monitoring by reduction of requirements to cost of assets, total volume of the received income and the total amount of taxes of the corresponding taxpayers", — it is said in the document.

It is necessary to report to the Prime Minister on results of work till March 15 of the current year.

In turn, the Ministry of economic development and the Federal Tax Service (FTS), together with interested Federal Executive authorities and companies with state participation, have been instructed to work out the possibility of tax control over such companies in the form of tax monitoring.

February 13, the Head of the Federal Tax Service Mikhail Mishustin asked Medvedev to instruct companies to connect with state participation in new form of control — tax monitoring. According to him, tax monitoring has already allowed participating companies to reduce labor costs for inspections by 30% and to close annual reports three times faster. The total amount of taxes on regulated tax positions with monitoring participants amounted to 23 billion rubles, he said.

By the beginning of 2019, 44 companies were among the participants of tax monitoring. Among them are LUKOIL, Gazprom, Rosneft, Russian Railways, Aeroflot, MegaFon, MTS, NTV etc.