Russians Will Be Obliged to Report on Foreign Electronic Wallets
OREANDA-NEWS. As follows from the bill, developed by the Russian authorities with the participation of the head of the State Duma Committee on the Financial Market Anatoly Aksakov, residents of Russia will be required to report to the tax service on foreign exchange transactions using electronic wallets of foreign operators.
The bill proposes amendments to the existing law called "On currency regulation and currency control". According to the adopted amendments, individuals residing in the Russian Federation are required to notify the tax authorities at the place of their registration of funds transfers using electronic means of payment provided by foreign payment service providers.
Residents of Russia who currently pay taxes in the country are required to report a transfer for the accounting year over 600,000 rubles, or the equivalent of this amount in foreign currency, follows from the document. Such reporting is already valid for account holders in foreign banks.
According to the authors of the law, now banks are increasingly providing Russians abroad with services for transferring money through electronic wallets, and these transfers must be controlled more.