FTS to Strengthen Control Over Russians' Bank Transfers

The Russian Ministry of Finance proposes to tighten control over bank transfers between individuals. The Central Bank is mandated to transfer data to the Federal Tax Service regarding citizens who regularly receive funds from other people.

This new initiative aims to identify gray salaries and hidden income among the population. The regulator plans to use information about incoming transfers to monitor compliance with tax legislation.

According to the proposed changes, debt repayment could become subject to taxation if the transfers are regular in nature. This requires careful attention to the financial activity of citizens when interacting with banks.

The introduction of new control rules is scheduled for January 1, 2027. This timeframe allows market participants time to adapt to updated requirements for data exchange between financial organizations and tax authorities.