The State Duma did not support restrictions on money transfers by migrants abroad

Елена Краснова Society
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The initiative to impose restrictions on money transfers by migrants outside of Russia was rejected by the State Duma. The country's Financial Market Committee recommended rejecting the bill proposed by deputies from the "New People" faction, reports RIA Novosti.

The authors of this initiative insisted that introducing a limit on transfers equivalent to the official salary of migrants could help bring their income out of the shadows and increase tax revenues to the budget.

However, the committee's conclusion emphasizes that the bill has a number of shortcomings and does not address key regulatory issues. The document lacks control mechanisms to ensure that transfers correspond to official income, and it does not outline the procedure for submitting declarations and verifying information. Moreover, there is no established responsibility for potential violations.

Russian authorities noted that this initiative requires significant revision and could lead to undesirable consequences, including an increase in illegal employment and a rise in the outflow of cash rubles to EAEU countries, where the free movement of currency is not subject to customs control.
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