Changes in the currency legislation to affect foreign trade participants

Olga Leonova

Russian Foreign Economic Journal, 2017, issue 11, 26-31

Abstract: In the article the author considers the new amendments to the currency control and currency regulation coming into force since January, 2018 abandoning the use of a transaction certificate.The Certificate of currency transactions, which earlier was to be filled out with the resident as the document reflecting currency movements on his traditional currency accounts, also becomes invalid. As a result the document flow between the companies and authorized banks becomes is simplified, since the bank is responsible for the bulk of it - not only for the control of currency transaction of the client, but also for registration of the foreign trade operations in the sheet of bank control.

Keywords: Currency control; currency regulation; transaction certificate; certificate of currency transactions; bank control of currency transactions. (search for similar items in EconPapers)
Date: 2017
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