The Russian government has announced new measures aimed at combating the shadow economy, with a particular focus on eliminating undeclared transactions. Finance Minister Anton Siluanov said the goal is to reduce the size of the shadow sector and boost state tax revenues. The plan includes cracking down on undeclared cash transactions and on taxpayers who do not contribute to the national health fund or other social funds.
Siluanov stressed the need for greater transparency in financial dealings, highlighting the importance of formalizing the crypto‑mining industry. To that end, a miners’ registry will be introduced, tax rules for the sector will be established, and operators will be brought into the formal economy. He also called for a reduction in cash usage, stricter enforcement of cash‑register transactions, and closer monitoring of landlords who rent retail space.
In addition, Siluanov emphasized tighter customs control over imports from CIS countries to ensure proper taxation and to curb “significant grey zones” in trade. These steps form part of a broader effort to strengthen oversight of social‑fund contributions and increase tax revenues.
Economic Development Minister Maksim Reshetnikov echoed the initiative, noting that formalizing the economy has become increasingly urgent. The government expects that reducing undeclared transactions and enhancing transparency will strengthen the tax base, improve funding for public services, and promote economic growth and stability.
These measures are linked to a wider strategy to stabilize and expand the Russian economy. The central bank has reported that the economy is stabilizing, and the government’s actions are intended to foster development and investment. By promoting transparency and reducing the risk of corruption and tax evasion, the new initiatives are poised to play a key role in this effort.
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