The government supported the bill on the repatriation of funds granted to non-residents


Moscow. December 17. The government has supported taking into account the comments of the parliamentary bill to establish the obligation of repatriation by residents on their accounts in authorised banks cash from non-residents payable in accordance with the terms of loan agreements, according to a statement on the government website.
The bill also provides for the establishment of liability for failure to comply with a resident of this obligation.
These measures aim to improve the currency and seek to enhance the anti-money laundering.
As noted in the government also needs to amend the AML law, broadening the list of transactions with funds subject to obligatory control, the transactions between residents and non-residents under the loan agreements, if the amount by which the operations are performed is equal to or exceeds 600 thousand rubles.
As reported, the head of the Duma Committee on economic policy and entrepreneurship Anatoly Aksakov has introduced a bill titled “On amendments to the law “On currency regulation and currency control” and article 15.25 of the Russian Code of administrative offences”. If the law is passed, it will enter into force after its official publication.
Under the bill, residents in the provision of foreign currency or the currency of the Russian Federation in the form of loans are required to provide from non-residents on their Bank accounts funds payable in accordance with the terms of the contract. “The absence in the legislation of the Russian Federation such obligation is used by unscrupulous business entities for withdrawal of funds abroad”, – stated in the explanatory note to the document.
According to statistical information the Bank of Russia, as of 1 June 2015, the amount unpaid by non-residents of funds in the terms established by the loan agreements amounted to $30,2 billion.