Only transfers of legal entities are subject to mandatory control over cash transactions in Russia, the new rules have not changed this, the press service of the Central Bank (CB) explained.
“As for the control over cash transactions, only legal entities will still be subject to mandatory control,” the Bank of Russia said, RIA Novosti reports.
At the same time, credit institutions have no longer had the need, as before, in the "manual mode" to identify the correspondence of the cash transaction to the nature of the economic activity of the legal entity: "From now on, any crediting or withdrawal from the account of cash of a legal entity in an amount equal to or exceeding 600 thousand rubles ".
It is also noted that there have been no significant changes in relation to real estate transactions: if earlier the entire transaction of 3 million rubles or more fell under control, now only individual transactions within the framework of the transaction exceeding the specified amount.
The Central Bank stressed that the procedure for making settlements and payments both in cash and non-cash form, including those made by individuals, is not directly regulated by law.
“Accordingly, the changes made to it do not in any way change the procedure for making payments and payments by them,” they noted there.
The regulator also assured that the amendments that have come into force do not carry any drastic changes in terms of cash control, but are intended to facilitate reporting for banks, "to reduce the burden on financial institutions when informing financial intelligence about transactions subject to mandatory control."
"All operations subject to mandatory control are now distributed among them, taking into account the nature and specifics of their activities," the Central Bank concluded.
Earlier it was reported that new amendments entered into force in Russia on January 10, which strengthen control over cash transactions in the amount of 600 thousand rubles or more. It also introduces control over postal orders over 100 thousand rubles.
