The relevant standard is contained in the draft government decree «On currency control measures in the face of the pressure of external sanctions», prepared by the Ministry of Finance.
The text of the document is posted on Regulation.gov.ru.
The project was developed «in order to reduce the administrative burden on residents and reduce the effects of the pressure of external sanctions,» reads the explanatory memorandum.
An exception to the proposed moratorium on inspections are cases where the inspections carried out revealed violations with the limitation period for administrative liability ending before December 31, 2022. administrative inquiries may continue in relation to such violations.
The suspension of the control of compliance with the foreign exchange law does not apply to violations related to the implementation of the provisions adopted after the commencement of the military operation in Ukraine and the purchase and sale of foreign currencies, bypassing authorized banks. The exceptions are explained by the fact that such violations «in the present conditions constitute a significant violation of the state’s interests in the implementation of the state’s uniform monetary policy, as they threaten the stability of the currency of the Russian Federation and the stability of the domestic currency market.»
The draft also provides for the extension from June 1 to December 1, 2022 of the deadline for submitting to tax authorities by resident natural persons reports on cash flows and other financial assets on accounts (deposits) with foreign banks for 2021.
«The deferral of reporting is due to the difficulties encountered by residents in obtaining the information and supporting documents necessary to complete reports from banks and other financial market organizations located outside the territory of the Russian Federation,» reads the explanatory memorandum. . Interfax reports.
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