President of Russia Vladimir Putin signs the law, aimed at liberalization of the currency control of individuals; the respective document was published on the official portal of legal information, RIA News reports.
The law is aimed at eliminating the excessive encumbrances for authorized banks and resident individuals when conducting currency operations and using the accounts, opened by them in the banks beyond RF territory, and extending the list of permitted cases of crediting funds on resident individuals’ accounts, opened by them in banks beyond RF territory, bypassing the authorized banks.
In addition, the law establishes the specifics of fulfilment by resident individuals of obligations of notification of tax organs about the accounts, opened in the banks beyond RF territory, as well as the submission of reports to the tax organs on the cash flow movement on foreign accounts of such individuals, if the period of their stay abroad within the calendar year is more than 183 days regardless of the number of entries to Russia in this calendar year.
