In order to tighten currency control, legislative acts were amended. In particular, they relate to the definition of the term “currency resident”. The taxation of the income of citizens largely depends on its correct interpretation.
The concept
The term "resident" is introduced in the legislation not only in relation to tax, but also currency control. The new law “On Currency Residents” (2012 edition) provides that persons who left the country more than a year ago and no longer appear in Russia are not citizens of the Russian Federation. It does not matter what kind of visa a person has: student, tourist or giving the right to visit relatives. Regulatory acts speak of “permanent” or “temporary” stay in another country, but none of them speak of “continuity”. That is, citizens of the Russian Federation who live in another country, who at least one day a year will come to their homeland, will lose non-resident status. But some lawyers believe that you need to pay attention to the fact of registration at the place of residence. When a person migrates to another country, he is discharged from housing in the Russian Federation. It is difficult to track his short-term visits to his homeland.
The concept of “currency resident” was introduced in the legislation earlier. Then it was no less confused. In particular, this category of citizens could include all persons with open long-term visas in a passport, even if they had never used them.
Who is the currency resident of the Russian Federation :
- persons who have a residence permit in Russia;
- legal entities registered in the Russian Federation;
- municipal subjects of the Russian Federation.
The turmoil around the interpretation of this term is not accidental. The number of duties of citizens of the Russian Federation is increasing every year.
Resident Responsibilities
- Notify about opening and closing an account in foreign banks. For violation of the requirement a fine of five thousand rubles is provided.
- Prevent the receipt of amounts from illegal operations, in particular, income from the sale of property. For violation of the requirements, the currency resident is required to pay a fine in the amount of 75% of the transaction volume.
- Since 2015, individuals are required to submit annual reports on the movement of funds annually (until June 1). For a primary violation of the prescribed procedure, a fine of 3 thousand rubles is imposed, and for a second violation - 20 thousand rubles.
How to report
The report can be made in paper form and sent directly to the Federal Tax Service or sent through a personal account on the taxpayer’s website. The first sheet contains information about the applicant, and the second - about the currency account. A separate copy of the second sheet is provided for each account. The FTS within its authority may require additional documents confirming the operation. A week is given for their preparation. In particular, they may request:
- The report on the movement of funds on the account (it is better to request in advance at the bank) is also accepted in electronic form.
- Notarized copies of documents from the bank and their certified translation into Russian.
- Declarations, passports of transactions and contracts on which the tax may request information.
After submitting a report on any income, the currency resident must pay personal income tax. Taxation of dividends (13% and 15%, respectively, for residents and non-residents), income from operations with the Central Bank is provided for by law:
- 13% for physical resident individuals (30% - for non-residents);
- 20% for legal persons - (not) residents.
In order to avoid double legislation, Russia has concluded agreements with 80 countries of the world. For some types of income, a resident can pay taxes only in the host country. For example, if a taxpayer has paid tax on rental income at a rate of more than 13% in the country of residence, nothing needs to be paid in the Russian Federation. But so that the Federal Tax Service does not have any questions, it is better to provide a copy of the foreign tax return and payment documents. If a trustee is involved in the management of real estate, then a certificate must be obtained from him, since in this situation he is a tax agent.
Confession Turnout
Claims on payment of fees for previous years can be avoided with the help of capital amnesty - submit a special declaration by July 1 stating the balance of the account and attaching a notice of its opening.
An amnesty of capital also extends to illegal transactions. You can transfer salary, travel expenses, social payments to a foreign account. In OECD and FATF countries, loans in foreign currency, rental income, and coupon income are also allowed. However, listing grandees and income from the sale of property is prohibited. For violation of this requirement faces a fine of 75% of the transaction amount. In practice, it looks like this. If the foreign account received income of $ 100 from the sale of the Central Bank, then $ 75 will be used to pay off the fine. But if you have time to submit a special decoration before June 1, then responsibility can be avoided.
Administrative responsibility
The currency resident (non-resident) is liable only for those offenses in respect of which his guilt has been established (Article 1.5 of the Code of Administrative Offenses). In this case, the decision on the offense may be issued after 2-3 months from the date of its commission. In the framework of the case before the court, the terms of liability have been increased to two years.
If the Federal Tax Service independently finds out about the availability of a foreign currency account, then a resident will be fined in the amount of 5 thousand rubles. If he reports immediately after the deadline, that is, June 1, the amount will be reduced exactly 5 times.
If the currency resident did not manage to submit a report after receiving the request, the fine will be 300 rubles (if there is an delay of ten days) and 2.5 thousand rubles. (with a delay for a longer period). For repeated violation, a fine of 20 thousand rubles is provided.
If the currency resident has not announced the opening of an account, but will constantly receive income on it, then this is regarded as tax evasion. The FTS will still oblige to pay fees and impose a fine in the amount of 100-300 thousand rubles.
Check
How does the Federal Tax Service find out that a foreign currency resident (individual) has a foreign account? So far, only from the taxpayer. Since 2018, the Russian Federation has joined the automatic tax information exchange system. Therefore, the authorities of the Federal Tax Service will find out information in a timely manner.
There are situations when a currency resident himself is interested in informing the Federal Tax Service about opening an account. For example, in order to transfer funds from your account in the Russian Federation to a foreign bank, you need to provide a notification to the Federal Tax Service about the opening of such with a note on the adoption of the document. This is a must for all customers. Wanting to get around it, citizens transfer funds to third party accounts. But the laws of some countries allow only the receipt of funds into your account with confirmation of the origin of the money.
Citizens who previously notified about foreign accounts also fell into the risk zone, until 2015 they were not closed and they did not provide information on time. An administrative offense may be brought against such persons with a fine of 10 thousand rubles. and a ban on leaving the territory of the Russian Federation.
Salary in a foreign company
You can get paid abroad. Moreover, it is desirable to be absent from the homeland more than 183 days a year. In this case, the person is deregistered in the Russian Federation. There is no need to talk about currency residence. Short visits do not oblige you to anything. Require registration at customs can only when traveling for a period of 90 days. In other cases, it is not necessary to report on foreign accounts.
Central Bank Trade
Only in the OECD and FATF countries can you transfer to your account coupon, interest income from operations with the Central Bank, payments on bonds, income from trust management. All these transactions are taxed at a rate of 13%. Tax is also levied on exchange differences. Therefore, the tax rate is calculated based on the converted amount.
Starting from 2018, changes regarding the crediting to the account of income from the sale of the Central Bank should come into force. To date, such transactions are prohibited on accounts opened in any country in the world. It is also worth noting that repayment of bonds is not a sale of securities. Such operations are not subject to currency restrictions.
Useful resources
Firstly, residents must create a personal account on the website of the Federal Tax Service. Then all issues with fiscal authorities can be resolved without coming to the Russian Federation.
You can track the debt for administrative fines on the website of the Federal Bailiff Service.
Sometimes it is better to cancel the status of a currency resident and to be deregistered than to argue with the authorities of the Federal Tax Service.
Conclusion
Currency legislation is designed in such a way that individuals do not have a desire to export capital abroad. Standard foreign exchange transactions between residents can be carried out without additional red tape, and transferring funds to your own account in another country can cause a lot of difficulties. It is better to violate the reporting deadline than to ignore this requirement altogether. FTS will sooner or later find out about an account. And then taxes will be charged and a huge amount of the fine will be set.