Foreign economic activity. The system of currency control over export-import transactions, its purpose and procedure for ensuring (the most important)

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Foreign economic activity. The system of currency control over export-import transactions, its purpose and procedure for ensuring (the most important)

Lecture notes, cheat sheets

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47. The system of currency control over export-import operations, its purpose and procedure for ensuring

In order to prevent the leakage of currency and comply with the norms of financial activity, all exporters introduced a system of currency control, based on a strict linkage of flows of customs and banking information flowing to banks on settlement and payment transactions, on crossing the customs border by goods and on receipt of the corresponding foreign exchange earnings.

Currency control in the Russian Federation is carried out by the Government of the Russian Federation, bodies and agents of currency control. The bodies of currency control in the Russian Federation are the Central Bank of the Russian Federation and the Federal Service for Financial and Budgetary Supervision.

The Central Bank of the Russian Federation exercises control over the implementation of foreign exchange operations by credit institutions, as well as currency exchanges.

Control over the implementation of currency transactions by residents and non-residents who are not credit institutions or currency exchanges is carried out within their competence by the Federal Service for Financial and Budgetary Supervision, which is the currency control body, and currency control agents.

The Government of the Russian Federation ensures the coordination of activities in the field of currency control of the Federal Service for Financial and Budgetary Supervision, as well as its interaction with the Central Bank of the Russian Federation.

The basis of the system of currency control over export-import transactions is constant monitoring and control - monitoring, designed to prevent violations in the field of foreign economic activity. Participants in foreign economic activity for each export contract draw up a transaction passport, which contains the basic information necessary for exercising control: details of the exporter, buyer, bank, including a foreign one, where the exporter's account is opened with a description of its regime, a copy of the license of the Bank of Russia to open an account for abroad, the contract and its conditions.

The reliability of the data specified in the transaction passport is checked from the standpoint of their compliance with the contract and legal norms. By signing the transaction passport, the bank opens a file on the exporter and accepts this contract for settlement services, thereby expressing consent to perform control functions over the receipt of foreign exchange earnings. A copy of the transaction passport is presented by the declarant at customs clearance.

The grounds for refusing to sign the transaction passport by the bank may be: non-compliance of the passport with the actual terms of the contract and the proposed foreign exchange transactions, current legal norms, violation of the conditions for crediting foreign exchange earnings - evasion of transferring funds to the accounts of an authorized bank or crediting them to the accounts of other enterprises that are not exporters.

As information about export deliveries is received from the customs authorities, the authorized bank monitors the receipt of foreign currency payments and informs the Federal Customs Service about this. Authorized banks that violated the instructions for issuing a transaction passport and allowed the exporter to hide the proceeds from goods shipped for export are subject to a fine in the amount of the entire amount concealed by the exporter.

Currency control provides for an examination of the validity of shortfalls or delays in foreign exchange earnings from the export of Russian goods. This is done by the Expert Group of the Ministry of Economic Development of Russia, whose conclusions are sent to authorized banks, the Federal Customs Service and the Federal Service for Financial and Budgetary Supervision.

The control requirement is the monthly submission by the authorized bank to the Main Directorate for Foreign Exchange Regulation and Foreign Exchange Control of the Central Bank of the Russian Federation of information on cases of advance payments or prepayments by residents as payment for imported goods, for which documents confirming the fact of transfer of goods to the buyer were not submitted in a timely manner (after 180 days from the date of transfer of foreign exchange funds).

Author: Bobkova O.V.

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