Currency control in Russia: archaism or necessity

Sergey Sinelnikov-Murylev, Antonina Levashenko, Alexandra Alexandrovna Koval and Pavel Trunin
Additional contact information
Alexandra Alexandrovna Koval: Russian Foreign Trade Academy, Moscow, Russia

Russian Foreign Economic Journal, 2019, issue 5, 7-15

Abstract: Currently, we still have currency control regulations that create barriers to currency operations and significantly complicate the foreign exchange residents' ordinary course of business (Russian companies and citizens). Besides, the currency control does not solve macroeconomic problems, but is used to address tax issues and to prevent money laundering in international trade. The article proposes measures aiming to improve tax administration, increase the efficiency of international tax information exchange and anti-money laundering measures. The reform of the foreign exchange regulation system will allow to abolish the archaic currency restrictions and use alternative instruments to control cash flows.

Keywords: Currency control reform; foreign exchange restrictions; tax information exchange; anti-money laundering in international trade (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
http://repec.vavt.ru/RePEc/alq/rufejo/rfej_2019_05_7-15.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2019_05_7-15

Access Statistics for this article

More articles in Russian Foreign Economic Journal from Russian Foreign Trade Academy Ministry of economic development of the Russian Federation Contact information at EDIRC.
Bibliographic data for series maintained by Irina Katolik ().