Foreign economic activity. Currency control over import and barter transactions (most important)

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Foreign economic activity. Currency control over import and barter transactions (most important)

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48. Currency control over import and barter transactions

Since the end of 1995, foreign exchange control has also been extended to importers, providing for the issuance of an import transaction passport in order to reflect the volumes of foreign currency transferred abroad and the equivalent of imported products.

Import Transaction Passport - a basic currency control document drawn up by the Importer at the Importer's Bank and containing information about the import contract necessary for the implementation of this control.

Currency control over import transactions provides for the establishment of a strict period - 14 days, during which the acquired hard currency, necessary for the purposes of foreign trade payment, must be confirmed by the fact of delivery or shipment of goods to the Russian importer. After the expiration of this period, the hard currency is withdrawn.

In the system of currency control in the field of foreign economic activity since 1996. included issuance of a barter transaction passport (further - PBS), which is mandatory for the customs clearance of goods transported across the customs border of Russia, on account of the execution of barter transactions. This is due to the fact that in recent years barter transactions began to occupy a large volume in the composition of Russia's foreign trade turnover.

A barter transaction passport is issued by the Ministry of Economic Development of Russia.

The PBS should indicate:

▪ date of conclusion and number of the foreign trade barter transaction;

▪ nomenclature, quantity, quality, price of goods for each product item, terms and conditions of export and import of goods;

▪ list of services, works, intellectual property, their cost, terms of provision of services, performance of work;

▪ a list of documents submitted to a Russian person to confirm the provision of services or performance of work.

An application for registration of a PBS is sent to the department of the Ministry of Economic Development of Russia at the place of state registration of the company. If the amount of the contract exceeds 5 million US dollars, then the PBS is issued at the Office of the Commissioner of the Ministry of Economic Development of Russia for the Central District.

The following documents must be attached to the application:

▪ two copies of the PBS signed and certified by the seal (for legal entities) of a Russian entity;

▪ the original Agreement (amendments and/or additions to the Agreement), on the basis of which the PBS was drawn up, and their certified copies (certified copies of the documents remain in the Office of the Commissioner of the Ministry of Foreign Economic Relations of Russia in the region);

Additionally submitted: two copies signed and certified by the seal of the company PBS; the original of the barter agreement on the basis of which the PBS was drawn up; original and copy of the permission of the Ministry of Economic Development of Russia; a notarized copy of the certificate of state registration of the company; a copy of the certificate of registration in the territorial office of the State Statistics Committee of Russia. The number of the barter transaction passport is assigned by the Ministry of Economic Development of Russia.

Foreign trade in goods, services and intellectual property using foreign trade barter transactions can be carried out only on the condition that such transactions provide for the exchange of goods, services, works, intellectual property of equal value, as well as the obligation of the relevant party to pay the difference in their value if such a transaction provides for the exchange of unequal goods, services, works, intellectual property.

The system of control over such transactions consists in tracking by the customs authorities the mandatory equivalent of the import of goods, works, services, results of intellectual activity at the cost of exported goods or crediting foreign exchange earnings from exports to accounts with authorized banks in the prescribed manner.

Author: Bobkova O.V.

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