The State Duma did not support restrictions on money transfers by migrants abroad

The initiative to impose restrictions on money transfers by migrants abroad was rejected by the State Duma. The Committee on the Financial Market of the Russian Federation recommended rejecting the bill proposed by deputies from the "New People" faction, as reported by RIA Novosti.

The authors of the bill argued that such restrictions, equal to the official salaries of migrants, would help bring their incomes out of the "shadows" and increase tax revenues to the state budget.

However, the committee's conclusion indicated that the project has numerous shortcomings and does not cover all necessary aspects of regulation. In particular, the document does not outline mechanisms for monitoring compliance of transfers with declared official incomes, lacks a procedure for submitting declarations and verifying information, and does not establish measures of responsibility for possible violations.

Moreover, Russian authorities noted that the bill requires significant revision and could lead to undesirable consequences, such as an increase in illegal employment and a rise in the outflow of cash rubles to EAEU countries, where there is no customs control over currency movement.