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Altai Customs initiated 159 cases of administrative offenses for violation of currency legislation

Since the beginning of 2018 in the region of the Altai Customs, there has been a significant increase in administrative cases filed against participants in foreign economic activities for violation of currency legislation

Since the beginning of 2018, the Altai Customs has initiated 159 cases of administrative offenses against participants in foreign economic activities for violation of currency legislation in the course of their foreign economic activities. As a result of the consideration of cases on administrative offenses of this category in 2018, fines totaling 7,958,305.8 rubles were imposed.

Altai Customs reminds that administrative responsibility for violation of currency legislation when carrying out foreign economic activities is established by article 15.25 of the Code of Administrative Offenses of the Russian Federation. Federal Laws No. 325-FZ of November 14, 2017, and No. 64-FZ of April 3, 2017, introduced amendments to Article 15.25 of the Code on Administrative Offenses of the Russian Federation, affecting the issues of bringing persons to administrative responsibility - officials and individual entrepreneurs without forming a legal person can now be brought to administrative responsibility.

The responsibility on officials for committing administrative offenses under parts 1 - 6.5 of article 15.25 of the Code on Administrative Offenses of the Russian Federation may be imposed not only on chief executives and other employees of organizations, arbitration managers who have committed an offense in connection with the performance of organizational and administrative and economic functions, but also members of the board of directors, collective executive boards, counting commissions, audit commissions, liquidation commissions of legal entities and directs of organizations performing functions of the sole executive officer of other organizations, individuals who are founders (stakeholders) of legal entities, heads of organizations that exercise the powers of the sole executive officers of organizations that are founders of legal entities.

Also, due to the fact that Article 19 of the Federal Law of 10.12.2003 No. 173-FZ “On Currency Regulation and Currency Control” establishes the obligation of residents to ensure, within the time tem specified by a loan agreement, the receipt from non-residents to their bank accounts in authorized banks the foreign currency or currency of the Russian Federation due in accordance with the terms of loan agreements, section 4 of article 15.25 of the Code on Administrative Offences of the Russian Federation has been added with new set of features of an administrative offence which sets forth the responsibility for the non-fulfilment by a resident of said obligation.

Press Service of the Siberian Customs Administration, tks.ru, 30 May 2018