Russia is to introduce new measures to combat shadow economy
“The Russian government is now taking steps to reduce the level of the shadow sector,” Siluanov told the Federation Council Committee on Budget and Financial Markets.
Earlier this month, Siluanov highlighted transparency in financial transactions as a key priority for 2026. Among the measures, he emphasized formalizing the cryptocurrency mining sector by introducing a registry for miners, establishing clear tax rules, and ensuring operators comply with regulations.
Speaking at a Federal Tax Service meeting, Siluanov also called for reducing cash usage, enforcing cash-register compliance, and closely monitoring landlords renting retail spaces. Tighter customs controls over imports from CIS countries will also be implemented to ensure proper taxation and close “significant grey zones” in trade.
The minister stressed that these steps aim to shrink the shadow economy, boost state tax revenues, and strengthen oversight of social fund contributions. Russian Economic Development Minister Maksim Reshetnikov confirmed in September that further measures to formalize the economy were in preparation, noting the issue has become increasingly urgent.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
