Hiding information about operations with foreign accounts will be imposed fines
Since January 1st, 2015 citizens of the Russian Federation will be imposed fines for information hiding about operations with foreign accounts. This draft legislation is developed in the Ministry of Finance.
An obligation to provide information on such actions in tax authorities was stated in the law #218-FZ "On amendments being made to certain legal acts of the Russian Federation" dated July 21st, 2014. However there were not mentioned and stated any penalties for non-execution of this obligation. According to the new legislation the penalty for information hiding about operations with foreign accounts for individuals will make 4-5 thousand rubles.