Russia wants to ban migrants from making overseas transfers exceeding their salary

In Russia, deputies proposed to ban foreign citizens from transferring abroad amounts exceeding their official earnings. For large transfers, migrants will need to provide a declaration confirming their sources of income.

As reported by kp.ru, parliamentarians Alexey Nechaev, Sardana Avksentyeva, and Vladimir Plyakin addressed this initiative to the Central Bank of the Russian Federation.

"In order to increase the transparency of financial operations, combat the shadow economy, increase tax revenues, and ensure economic security, we consider it necessary to consider amendments to the current legislation," states the text of the appeal, which was made available to kp.ru.

Notably, in 2023, labor migrants set a record for the volume of money transfers to their homeland, which exceeded 18 billion dollars. This impressive amount demonstrates the significant impact of such transfers on the economies of recipient countries.

According to representatives of the "New People" party, many migrants evade paying taxes while actively using social services in Russia. The proposed changes are aimed at strengthening control over financial operations, ensuring tax payments, and preventing the legalization of illegal income.