Russia has tightened control over cash transactions

In Russia, on January 10, new rules came into force, strengthening control over cash transactions, reports TASS .

As the senior lawyer of the tax practice of the law firm Bryan Cave Leighton Paisner (Russia) explained Dmitry Kirillov , in general there are more restrictions, and the spheres in which they appeared indicate the increased attention of the state to them.

In particular, now information about the withdrawal or crediting of cash in the amount of over 600 thousand rubles will be transferred to Rosinformonitoring. Also, postal orders in the amount of more than 100 thousand rubles and refunds from the accounts of telecom operators in the same amount will be monitored.

At the same time, some regulatory concessions are introduced. Thus, the mandatory control over money transfers abroad to an account or deposit opened for an anonymous owner and the receipt of funds from such an account or deposit are canceled. In addition, control over the receipt of property under a lease agreement is excluded, only the provision of such property is controlled. At the same time, lease payments in excess of 600 thousand rubles will be monitored.

Earlier in Ministry of Finance explained to Russians the procedure for paying tax on income on deposits over one million rubles. Not the bank deposits themselves will be taxed, but only the interest on them. The department noted that when placing large amounts on deposits with monthly interest payments, Russians can avoid paying taxes or reduce them if the income from the deposit is distributed over two or three tax periods.