IDEAS home Printed from https://ideas.repec.org/p/rnp/ppaper/021910.html
   My bibliography  Save this paper

Cancellation of currency control
[Отмена Валютного Контроля]

Author

Listed:
  • Drobyshevsky, Sergey (Дробышевский, Сергей)

    (The Russian Presidential Academy of National Economy and Public Administration, Gaidar Institute for Economic Policy)

  • Koval, Alexandra (Коваль, Александра)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Levashenko, Antonina (Левашенко, Антонина)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Trunin, Pavel (Трунин, Павел)

    (The Russian Presidential Academy of National Economy and Public Administration, Gaidar Institute for Economic Policy)

  • Sinelnikov-Murylev, Sergey (Синельников-Мурылев, Сергей)

    (The Russian Presidential Academy of National Economy and Public Administration, Russian Foreign Trade Academy, Gaidar Institute for Economic Policy)

Abstract

In Russia today, currency restrictions remain that do not correspond to the realities of a market economy and create obstacles for Russian business and citizens: the requirement of repatriation and restrictions on the use of foreign accounts. The main argument in favor of maintaining currency control is its need for macroeconomic stability, tax administration and anti-money laundering. But currency control is not the determining factor for capital outflow, and in a crisis situation restrictions on cross-border financial transactions can be introduced in the absence of currency control. This report contains a set of measures to abolish currency restrictions and improve the system of tax administration and control over money laundering. For tax control purposes, it is advisable to use tax legislation and tools for the international exchange of information. In order to combat money laundering, it is necessary to improve the risk management system and develop international cooperation among regulatory bodies.

Suggested Citation

  • Drobyshevsky, Sergey (Дробышевский, Сергей) & Koval, Alexandra (Коваль, Александра) & Levashenko, Antonina (Левашенко, Антонина) & Trunin, Pavel (Трунин, Павел) & Sinelnikov-Murylev, Sergey (Синельник, 2019. "Cancellation of currency control [Отмена Валютного Контроля]," Published Papers 021910, Russian Presidential Academy of National Economy and Public Administration.
    • Handle: RePEc:rnp:ppaper:021910
    as

    Download full text from publisher

    File URL: https://repec.ranepa.ru/rnp/ppaper/021910.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnp:ppaper:021910. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: RANEPA maintainer (email available below). General contact details of provider: https://edirc.repec.org/data/aneeeru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.