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Customs authorities have suspended audits of compliance with currency legislation

The Russian Government’s Resolution No. 671 dated 13 May 2020 has been published, by which the measures for the temporary suspension of audits of compliance with currency legislation also cover audits performed by the customs authorities as currency control authorities.

For these purposes the resolution introduced the corresponding amendments to clause 4 of the Russian Government's Resolution No. 409 dated 2 April 2020 “On measures for ensuring the stable sustainable development of the economy”.

Therefore, until 31 May 2020 the following is suspended:

  • the initiation by customs authorities of audits of compliance with Russian currency legislation;
  • the conduct by the customs authorities of audits of compliance with Russian currency legislation except for cases when, based on audits, violations have been identified for which the limitation period for imposing administrative liability expires before 1 June 2020. In such cases conduct of audits of compliance with currency legislation and administration proceedings may continue only with regard to such offences.

It is not stated in the Resolution that it comes into force on the date when it is published; for this reason, formally it comes into force from 23 May 2020.

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The initiation and conduct of audits is suspended only until 31 May 2020. If this term is not extended, the suspension of audits of currency legislation performed by the customs authorities in fact will be in force for just over a week.

For audits of compliance of currency legislation performed by the tax authorities, similar measures are in force from the end of March 2020. First they were introduced by Order No. ED-7-2/181@ dated 20 March 2020 for the term until 1 May 2020, and subsequently they are provided for in clause 4 of Russian Government’s Resolution No. 409 dated 2 April 2020 until 31 May 2020.

Help from your adviser

Pepeliaev Group’s specialists are ready to provide comprehensive legal support for issues associated with the application of currency legislation, including to check agreements and transactions for currency risks, to provide support during audits of compliance with currency legislation and to represent an entity and its employees before the currency control authorities and in court.

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