For any state, currency regulation has always been an important part of ensuring state sovereignty and stability of the national financial and economic system. The same importance is attached to this issue in our country, where the special Law of the Russian Federation “On Currency Regulation” has been adopted. This legislative act defines the tax authorities as the plenipotentiary institution of currency control, the head of which is the Ministry of Taxes and Duties of the Russian Federation. The law provides that liability for violation of currency legislation is carried out in accordance with the provisions of the Code of Administrative Offenses of the Russian Federation, in particular, articles 15.25 and 23.60. In addition, a violation of currency legislation is sanctioned in accordance with the requirements of the above-mentioned law. The subject of its regulation are operations with currency resources, precious metals and securities, which are attributed to the exclusive competence of the state. Violations in the field of monetary and financial activity include:
- currency transactions by individuals and organizations that do not have the relevant permits (licenses) for conducting these types of activities. Violations also include the activities of entities that, although they have received appropriate permits, but conduct them with violations of the law. In particular, the opening of residents' accounts, which was carried out with violations of the established order outside the borders of the Russian Federation, became quite common. This violation provides an administrative penalty for individuals and organizations in the form of a fine, the amount of which is determined depending on the size of the operation, ranging from 1/10 to one full amount.
- violation of the order and terms of compulsory import into the territory of the country of goods whose value is equal to the value of the monetary resources used for their payment. Also a violation is the failure to return the money resources transferred within the statutory deadlines. This violation entails liability for violation of currency legislation in the form of penalties in the amounts specified in the previous paragraph;
- violation of the procedure and rules for crediting to the accounts of revenue that was received for the export of goods, intellectual property products, services. Here, liability for violation of currency legislation provides for a fine, the amount of which is determined in accordance with the entire full cost of the rendered services, works or intellectual property products .
- liability for violation of currency legislation is also established if the established procedure for recording transactions in the field of foreign exchange activity is not observed. An equal violation is the failure to submit reports on these operations, and the non-observance of the storage periods for these documents. In this case, an administrative penalty is a fine ranging from 50 to 100 (for individuals) and from 400 to 500 (for legal entities) minimum wage.
The law provides the right to consider cases of violations of currency legislation to tax authorities according to their territorial competence. In addition, since these bodies are authorized to monitor compliance with the law on foreign exchange activity, they themselves are responsible for violation of foreign exchange control.
Based on these grounds for prosecution, all tax authorities are required to prosecute residents for violations in the field of foreign exchange.
In special cases, for violation of the rules for conducting foreign exchange transactions, criminal liability is also provided. This responsibility arises in the event of non-return from outside the Russian Federation of large amounts of foreign exchange resources that are subject to crediting to the accounts of an authorized bank in the Russian Federation.