ДИПЛОМ, Пятак Мария (1225544), страница 14

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In determining the foreign exchange, the control focuses largely on compliance with the currency legislation laws. This definition of exchange control, in fact, reflects its control functions which are:

- Carrying out preliminary checks by commercial banks of documents provided by the client;

- Monitoring the conduct of the foreign exchange operations;

- Verifying the foreign exchange transactions for compliance with the laws of the foreign exchange authorities and currency control agents;

- Prosecuting the participants of the foreign trade activities for violation of the currency laws.

Exchange control in the Russian Federation is assigned in accordance with the law on the government of the Russian Federation, the bodies and agents of currency control.

The part of the bank's control over exchange is to determine the compliance of these foreign exchange operations with the Russian legislation laws as well as bank checks required for data exchange operation permits and licenses.

Authorized bank is a very important element in the mechanism of exchange control, which counteracts the outflow of capital from the country.

There is an incremental algorithm in banks used, when considering the gradual revealing of export-import trade transactions with the aim of the capital outflow.

In the first step in there is a review of contracts and other constituent documents the authorized bank, which allows to identify suspicious transactions and signs of the capital outflow.

The second step is the identification of signs of the capital outflow and information transfer to regulatory authorities in the design stage, the signing of the transaction passport and currency transactions.

In my opinion, the list of signs of unfair transactions should be added to the following: the pricing of goods for export and import trade contracts below the world average; a significant excess of the accepted level of penalties; additional agreements with the suspensive or resolutive condition; breach of contract in a timely manner and its prolongation. In the fifth part of the number of PS (reserve position) to put down the corresponding number types of suspicious transactions that may lead to the outflow of the capital, established by a separate list.

The form of currency control is a way of a particular expression and organization of control activities.

Exchange control in the Russian Federation is carried out at all stages of the implementation of foreign exchange transactions. Depending on the time of the controls, there are three basic forms of control:

1) preliminary exchange controls implemented, for example, authorized banks when you make a transaction passports, authorized banks and professional participants of the securities market in the reclamation of the supporting documents by the tax authorities in the preparation of the notification of the opening of resident accounts abroad, etc.;

2) current foreign exchange controls by the customs authorities in controlling the import into the customs territory of the Russian Federation and export from the customs territory of the Russian Federation currency values, currency of the Russian Federation and domestic securities;

3) follow-up is carried out, for instance, the tax authorities in the preparation of reports on the movement of funds on the accounts of residents abroad.

The techniques and methods of implementation are understood by exchange control methods. Exchange control methods are shown in Figure 1.2.

Exchange control methods

checking

inspection

observation

audit

analysis

Figure 1.2 Exchange control methods

A special focus of foreign exchange control is to control the observance of the currency and customs legislation in the implementation of the foreign trade business in the field of international exchange of goods, services, information, results of intellectual activity, including exclusive rights to them [16].

In accordance with the legislation laws of the Russian Federation, currency control is carried out by the bodies of currency control. The organizational structure of the currency control system can be represented in the following diagram (Fig. 1.3).

Currency control authorities in the Russian Federation are the Central Bank of the Russian Federation and the federal agency (federal authorities) of executive power authorized (authorized) by the Government of the Russian Federation [19].

Organizational structure of currency control

Government of the Russian Federation

Agents of currency control

Bodies of currency control

– Authorized banks accountable to the Central Bank of the Russian Federation

– State corporation of "Development Bank of foreign trade activities (Vnesheconombank)"

– Professional participants of securities market

– Customs authorities

– Taxing authorities

– Central bank

– Federal Service for Financial and Budgetary Supervision (Rosfinnadzor)

Figure1.3 The organizational structure of the foreign exchange control system

The main body of currency regulation, the Central Bank of the Russian Federation is authorized:

• to define the scope and the treatment of the Russian Federation of foreign currency;

• to issue regulations that are binding on the territory of Russian residents and non-residents;

• to conduct all types of foreign exchange transactions;

• to establish rules for residents and non-residents in the Russian operations with foreign currency and securities in foreign currency, as well as the rules of non-residents in the Russian operations with currency and securities of the Russian Federation in the currency of the Russian Federation;

• to establish the procedure of compulsory transfer, import and transfer to the Russian Federation of foreign currency and securities in foreign currency belonging to residents, as well as cases and terms of opening resident foreign currency accounts in banks outside the Russian Federation;

• to establish common rules for issuing licenses to banks and other credit institutions to conduct foreign exchange operations and to issue such licenses;

• to establish common form accounting, reporting, documentation and statistics of currency transactions, including authorized banks, as well as the procedure and terms of their submission;

• to prepare and publish statistics of foreign exchange operations of the Russian Federation on accepted international standards [4].

The Federal Service for Financial and Budgetary Supervision performs the following functions:

• monitoring the compliance by residents and non-residents with the Russian legislation and departmental regulations governing the conduct of foreign exchange operations, and the implementation of obligations to the state residents in foreign currency;

• controlling the completeness of receipt in the prescribed manner the funds in foreign currency for foreign economic operations;

• participating in the conduct of monitoring compliance with the order of quotas and licensing of exports of goods and services and the correct use of quotas and licenses;

• supervising the legality of the provision or denial of the right to export of strategic commodities businesses and organizations;

• organizing the currency and export control with other bodies and agents, the interested federal executive authorities verify the completeness and objectivity of accounting and reporting of currency, export, import and other foreign economic operations as well as checks of operations of non-residents in currency of the Russian Federation;

• monitoring the effectiveness of the use of credits in foreign currency provided by the Russian Federation on the basis of international treaties and agreements;

• analyzing and generalizing the practice of currency and export control, including in foreign countries, and is in accordance with established procedure, proposals on development and improvement of Russian legislation in this area;

• providing the interaction with the currency and export control of foreign countries;

• performing the other functions related to the currency and export control in compliance with the Russian legislation laws [18].

The Government of the Russian Federation shall ensure the coordination of the activities in the field of currency control by the federal executive bodies; it is the body of currency control as well as their interaction with the Central Bank of the Russian Federation [24].

The federal executive authority is the Ministry of Finance of the Russian Federation. The Ministry of Finance of the Russian Federation pursues the unified state financial, budgetary, fiscal and monetary policy as well as the industrial policy in the mining, manufacturing and processing of precious metals and precious stones, and coordinates the activities in these areas; the other federal executive authorities shall exercise the rights and functions of the abolished Federal Service of Russia for Currency and Export Control of the organization and conduct of foreign exchange control and management of a unified information system of foreign exchange control [7].

The objects of exchange control for the customs authorities are the currency moving through the customs border of the Russian Federation, the securities in the currency of the Russian Federation, the currency values as well as foreign exchange transactions related to movement through the said border of goods and vehicles.

The participants of the currency market act as the entitiess of the exchange control - natural and juridical persons who are residents and non-residents. With regard to the foreign exchange control when exporting the goods, the entities are the participants of the foreign economic activity: exporters and their counterparts.

All the customs authorities fulfill the functions of exchange control based on their competence. For this purpose, the specially founded structural subdivisions work within their structure (Fig. 1.4) [13].

The structural divisions of customs authorities which are carrying out functions of currency control

FCS of Russia

Customs

Regional customs boards

Характеристики

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