Russia Set to Introduce New Measures to Combat Shadow Economy
Finance Minister Anton Siluanov revealed the aggressive new strategy during testimony before the Federation Council Committee on Budget and Financial Markets on Tuesday, signaling Moscow's determination to expose hidden wealth streams.
"The Russian government is now taking steps to reduce the level of the shadow sector," Siluanov declared to lawmakers.
The crackdown will zero in on unreported cash dealings and individuals shirking payments to the national health system and other social safety nets, according to the minister's statement.
Siluanov had previously flagged financial transparency as a top-tier objective for 2026 earlier this month. His blueprint includes dragging cryptocurrency mining operations into the light through mandatory operator registration, a comprehensive miners' database, and defined tax obligations for the burgeoning sector.
During remarks at a Federal Tax Service collegium session, the minister pushed for diminishing cash usage across the economy, reinforced compliance with electronic payment systems, and enhanced scrutiny of property owners leasing commercial spaces. Siluanov also demanded fortified customs enforcement on goods entering from Commonwealth of Independent States nations to guarantee proper tax collection and eliminate "significant grey zones" plaguing cross-border commerce.
The initiative aims to shrink underground economic activity, boost government tax collections, and tighten supervision of social fund payments, the minister emphasized.
Economic Development Minister Maksim Reshetnikov aligned with the strategy in September, confirming that supplementary formalization protocols were in development and describing the challenge as increasingly critical.
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