North-West Customs Administration

The Head of the Currency Control Department of the Federal Customs Revenue Service of the North-West Customs Administration Irina Korchagina took part in a business event of the Finance Committee of the St. Petersburg International Business Association (SPIBA)

SPIBA unites more than one hundred institutions and enterprises working in St. Petersburg, Leningrad and Novgorod regions, as well as diplomatic, trade missions and non-profit organizations

Representatives of the St. Petersburg Department of the Federal Tax Service of Russia, major banks, law and consulting firms were also invited as experts to the business meeting on currency regulation and control.

Irina Korchagina told the audience about the meeting

Irina Korchagina told the participants of the event about one of the most important functions of the customs authorities – currency control, the results of 2023 and current trends in this area.

Customs control is one of the most important functions of the customs authorities – currency control, the results of 2023 and modern trends in this area

Customs officers control the completeness and timeliness of receipt of proceeds from exports of goods, the validity of payment by residents for imported goods, equivalence and compliance with the terms of counter deliveries in the execution of foreign trade barter transactions, the legality of non-trade transactions (movement of cash currency and monetary instruments across the customs border of the EAEU).

Customs officers control the completeness and timeliness of receipt of proceeds from exports of goods, the validity of payment by residents for imported goods, equivalence and compliance with the terms of counter deliveries in the execution of foreign trade barter transactions, the legality of non-trade transactions (movement of cash currency and monetary instruments across the customs border of the EAEU)

In conditions of tense geopolitical situation, the customs authorities of the North-West Federal Customs Service are faced with the tasks of countering capital outflow and illegal schemes using nominal legal entities, as well as controlling doubtful currency transactions, including using a risk-oriented approach.

Customs authorities of the North-West Federal Customs Service are faced with the tasks of countering capital outflow and illegal schemes using nominal legal entities, as well as controlling doubtful currency transactions, including using a risk-oriented approach

A specialist from the North-West Federal Customs Service spoke about how the Federal Customs Service cooperates with the Bank of Russia in order to fulfill its tasks. She informed about the procedure for conducting inspections, as well as measures taken by the state in terms of easing currency control in the context of sanctions restrictions affecting the work of businesses with currency transactions

For the year 2023, the customs authorities of the NWTU conducted 692 inspections of compliance with the foreign trade participants of the currency legislation of the Russian Federation, the results of which initiated 884 cases of administrative offenses, the responsibility for which is provided by Article 15.25 of the CAO RF, – informed Irina Korchagina. The majority (63%) of offenses are related to the failure of the resident to submit to the authorized bank forms of accounting and reporting on currency transactions, supporting documents and information in the implementation of such operations. The remaining share is accounted for by violations of the terms of receipt of currency proceeds from export of goods and violations of the terms of return of funds for goods not imported into the Russian Federation

Irina Korchagina highlighted in detail the peculiarities of customs declaration of cash imported into the Russian Federation as part of settlements under foreign economic contracts, and also spoke about responsibility for violations of currency legislation

At the end of the speech, an employee of the NWTU answered problematic questions that arose among representatives of the business community

Public Relations Department of SZTU