Cash Payment Restrictions to be Delayed
- The Moscow Times
- Oct. 28 2013 00:00
- Last edited 17:21
The Finance Ministry will continue to work on legislation aimed at limiting the size of transactions made in cash, Deputy Finance Minister Aleksei Moiseyev said Friday.
Pointing to a number of issues, including legal questions, that need to be addressed, Moiseyev said the law would, if passed, not come into force from Jan. 1 2014, but later, Interfax reported.
Earlier, Moiseyev said the Finance ministry had circulated a new version of the proposed legislation to ministries concerning the limitation of cash transactions. Initially, this proposal would introduce a limit of 600,000 rubles ($19,000) on cash payments, and in the future lower that marker to 300,000 rubles.