The Ministry of Industry and Trade offered to abandon cashier’s checks in Russia

Optional issuance of checks will help reduce costs for business, according to the Ministry of Industry and Trade
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The Ministry of Industry and Trade has made a proposal to allow stores not to issue paper cashier’s checks after each purchase: such a measure is designed to reduce the cost of tape for cash registers. The relevant statement is contained in a letter from Deputy Minister Viktor Yevtukhov to the Federal Tax Service (FTS).

The cash register has risen significantly, and if prices “remain at the same level, such an increase in value will lead to an increase in retail costs by about 30 billion rubles a year,” Izvestia reported, citing a letter from Yevtukhov. The document also notes that foreign suppliers of cash registers have reduced shipments of goods, but retailers are not yet concerned about the shortage of paper, as they took care of stocks for the year ahead.

The Federal Tax Service drew attention to the fact that one of the main goals of the cash reform is to protect the interests of Russian business from unfair competition from market participants who reduce costs by avoiding taxes, the newspaper writes. The initiative to issue checks optionally could provoke a surge in such unfair competition, the agency said.

Interruptions in the supply of consumables began after Western countries imposed large-scale economic sanctions as a sign of disagreement with the Russian special operation in Ukraine. Russian President Vladimir Putin has noted that pressure on Russia has been under sanctions since the early 2000s. Tightening restrictions in recent months, according to the head of state, is aimed at abolishing Russia as a state.

The special operation to demilitarize Ukraine began on the morning of February 24. According to Vladimir Putin, the main goal of the operation is to help the residents of the Donetsk and Luhansk People’s Republics who have faced the genocide of the Kiev authorities.

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The Ministry of Industry and Trade has made a proposal to allow stores not to issue paper cashier’s checks after each purchase: such a measure is designed to reduce the cost of tape for cash registers. The relevant statement is contained in a letter from Deputy Minister Viktor Yevtukhov to the Federal Tax Service (FTS). The cash register has risen significantly, and if prices “remain at the same level, such an increase in value will lead to an increase in retail costs by about 30 billion rubles a year,” Izvestia reported, citing a letter from Yevtukhov. The document also notes that foreign suppliers of cash registers have reduced shipments of goods, but retailers are not yet concerned about the shortage of paper, as they took care of stocks for the year ahead. The Federal Tax Service drew attention to the fact that one of the main goals of the cash reform is to protect the interests of Russian business from unfair competition from market participants who reduce costs by avoiding taxes, the newspaper writes. The initiative to issue checks optionally could provoke a surge in such unfair competition, the agency said. Interruptions in the supply of consumables began after Western countries imposed large-scale economic sanctions as a sign of disagreement with the Russian special operation in Ukraine. Russian President Vladimir Putin has noted that pressure on Russia has been under sanctions since the early 2000s. Tightening restrictions in recent months, according to the head of state, is aimed at abolishing Russia as a state. The special operation to demilitarize Ukraine began on the morning of February 24. According to Vladimir Putin, the main goal of the operation is to help the residents of the Donetsk and Luhansk People’s Republics who have faced the genocide of the Kiev authorities.

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