What kinds of penalty can be imposed if the limits for cash settlements between the legal parties are not followed?

The responsibility for violation of cash settlements procedure and rules of cash transactions is established for both officials and legal entity itself in part 1 article 15.1 Administrative Offences Code of the Russian Federation.

In accordance with this article the violation of cash settlements procedures means the payment settlements between the companies with cash amount exceeding the set limit and results in an administrative penalty which makes 4,000-5,000 rubles for officials and 40 000- 50 000 for entities.

©Professional consultation of the “RosCo” company

Date of foundation
company «ROSCO»
2004
Membership in professional organizations:
SRO NP «Audit Chamber of Russia»
(Certificate No 1809 dated 28.12.2009)
Chamber of Tax
Consultants
(Certificate No 78)
NP «Partnership of RSE»
(Russian Society of Evaluators)
Membership in public association:
Moscow Chamber
of Commerce and Industry
(Certificate No 123-973 dated 21.12.2009)
Non-Profit
Partnership of Turkish Entrepreneurs (RTIB)
Ratings:
A++1+++1++[%]
(as per the results of 2009 -
А++1+++1+[%])
Company
is included in the register of reliable enterprises of Moscow
Certificates of conformity:
Certificate of conformity to the requirements of GOST R ISO 9001-2008 (ISO 9001:2008)
Professional
liability
is insured