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Limits on cash payments may be imposed in 2014

October 25, 2013, 11:12 UTC+3
The Finance Ministry has prepared a draft law to set a limit for cash payments at 600,000 rubles
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MOSCOW, October 25 (Itar-Tass) - Limits on cash payments may come into force in 2004, but not from January 1, Russian Deputy Finance Minister Alexei Moiseyev told reporters.

“We have been confronted with a number of problems that make us think about the story. These are legal difficulties and difficulties of supervision,” he said, adding that a meeting with the tax service was planned in two weeks to discuss the issues.

The regulations may come into force later than early 2014. It is a tax law, and it may take effect not from January 1, but later, Moiseyev said.

The Finance Ministry has prepared a draft law to set a limit for cash payments at 600,000 rubles. It has been proposed also to lower the level to 300,000 from 2016.

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