Russia considers introducing tax on cash transactions

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https://www.rt.com/business/378126-russia-cash-transaction-limit/

The Russian Ministries of Finance and Economic Development are working on the way to reduce cash payments, business daily Vedomosti reports. The goal is to move away from the shadow economy and corruption that comes from money laundering and tax evasion.

According to the newspaper, the ministries are considering banning the payment of salaries in cash, limiting large cash purchases or introducing a cash tax.

Officials want to limit cash purchases of real estate, cars, and luxury items, but the cut-off price is being discussed. The economists are also looking at examples of India and Azerbaijan that limit not only cash transactions, but also cash withdrawals.

In January, the Russian media reported the government is considering setting a single cash purchase limit at 500,000 rubles (about $8,750 at the current exchange rate). Minister of Finance Anton Siluanov backed the initiative without specifying the limit.

At the moment, Russians still prefer cash transactions. In the first nine months of 2016 holders of bank cards withdrew 19 trillion rubles ($330 billion), but only spent 8.7 trillion ($150 billion) to pay for goods and services using plastic.

The share of cash in circulation is about nine percent of Russia’s Gross Domestic Product, according to the Central Bank.

Businesses are complaining about high costs and service fees of points of sale (POS) terminals in Russia, which may cost up to 10 percent of net profit a month.

Another option under discussion is a differentiated VAT (value-added tax) rate, which can be reduced for non-cash purchases. However this option partly violates the ban on restrictions on free movement of goods and funds in Russia and is unlikely to be adopted, tax adviser Sergey Kalinin told Vedomosti.

http://www.vedomosti.ru/realty/articles/2017/02/21/678632-putin-rekomendoval

———-

“The Russian Ministries of Finance and Economic Development are working on the way to reduce cash payments, business daily Vedomosti reports.”

not a good thing if you like paying in cash..

“Officials want to limit cash purchases of real estate, cars, and luxury items, but the cut-off price is being discussed. The economists are also looking at examples of India and Azerbaijan that limit not only cash transactions, but also cash withdrawals.”

not long to go now..

401

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~ by seeker401 on March 2, 2017.

19 Responses to “Russia considers introducing tax on cash transactions”

  1. http://endoftheamericandream.com/archives/what-this-woman-was-shown-about-the-future-of-the-united-states-will-shake-you-to-your-core

  2. No none can buy or sell unless they have the number of the beast .

  3. Reblogged this on World Peace Forum.

  4. It’s comical when the biggest tax evaders, money launderers and corrupt ones are the corporate bankers and their owners that don’t want the people to use cash.

    My husband made a five hundred dollar cash payment on our Chase Visa the other day at the bank, they asked for his ID because he was paying in ‘cash’. They are bound and determined to make everything electronic, much easier to manipulate and make it magically disappear with one click, just as Newt Gingrich wanted to put all of the history books online..much easier to change history.

    • terrorist!

      https://www.rt.com/news/terrorism-credit-cards-government-613/

      • !!! OMG, looks like we’re in deep doo doo now, we also own some flashlights AND I do grocery shop every week….no wonder they wanted his I.D. they’re onto us hahaha WOW that is amazing, I missed that article, the psychopaths are truly in charge of the insane asylum.

        • this might be next..

          “if you dont vote for the liberals..you are a terrorist”

          • Oh well, that just sealed it for me….I am a terrorist.

            • the thing is… if you DO vote for democrats (or republicans) you’re a terrorist.

              • oh well, I don’t vote…so I guess that earns me a reprieve of sorts? 🙂

                • i’m considering registering so i can vote for #calexit lol

                  • can u also register for #ORexit , #WAexit and #MAexit..

                    90% of snowflakes will finally be emancipated

                    • there’s lots of whining on both ‘sides’ of the nonsense. snowflakes vs whiny little bitches. the reason to have cal exit is to remove 55 blue electoral votes, giving trumptards unobstructed power in what’s left of the USA, which will then wither away in a sea of moronism. meanwhile, silicon valley will implement thier perfect techo-society, leading to an inhuman california.

                      the sooner the USA fragents, the sooner it will stop being able to just murder whoever the fuck it wants. ZFG for americans and their stupid lives.. who they can marry, whether or not they can kill their unborn babies… who fucking cares. stop dropping bombs on people who’ve done nothing to you, then we can talk about your stupid petty problems.

                    • xxx, “who they can marry, whether or not they can kill their unborn babies… who fucking cares. stop dropping bombs on people who’ve done nothing to you,”

                      When people are convinced to kill their own babies, then there is no need to drop bombs on them. Now if they will not kill their own babies, then drop bombs on them. When people are convinced male on male and female on female is the way to go, then it is even ‘better’ because there are no babies to kill and no need to drop bombs because there is nobody to drop bombs on. Then the utopia is established and all sing kumbaya; the end justifies the means. They are like animals.

                    • different babies.

                    • ha ha ha

            • https://christiantruther.com/news/

  5. we better said the hahaha is for the comment from Joel 🙂

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