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Thread: New requirement for Russian residents to file yearly reports on foreign bank accounts

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  1. #1
    Join Date
    Jun 2009
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    New requirement for Russian residents to file yearly reports on foreign bank accounts

    I just got back from a trip to my local tax office, answering a summons about a violation. Turns out in 2015 a new law was passed where Russian residents (citizens too, presumably) must file a report (отчёт) by the end of every May for the previous calendar year's balance, deposits, and withdrawls on foreign bank accounts. They know about my foreign bank account because as a Russian resident, I had to file a statement declaring the account in order to do wire transfers to that account from Russian banks (which I need to do to pay my foreign taxes). The first time violation (minimum) is 2500 rubles. And I get an administrative protocol filed against me, hooray.
    "What we need, as the ancients understood, is not a politician who is a business man, but a king who is a philosopher." -- G.K. Chesterton

  2. The Following 3 Users Say Thank You to Bogatyr For This Useful Post:

    Judge (24-11-2016), rusmeister (24-11-2016), tasel (12-02-2017)

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