On 21 June 2013 the Central Bank adopted Regulation No. 402-P on the procedure for the transfer of deal passports by the banks to tax authorities.

The Regulation was registered with the Ministry of Justice on 26 July 2013.

According to the Regulation, the banks shall transfer deal passports (for both foreign trade contracts and loan agreements) to tax authorities in an electronic form via the Central Bank’s territorial departments. Notably, the deal passports for foreign trade contracts shall be transferred to the tax authorities at the same time that they are transferred to the customs authorities in accordance with Regulation No. 364-P of 29 December 2010.

The Regulation will enter into force on 6 November 2013.

On 14 June 2013 the Central Bank issued Directive No. 3016-U amending its Instruction No. 138-I “On the Procedure for the Submission by Residents and Non-Residents to Authorized Banks of Documents and Information Related to Currency Operations, the Procedure for Filing Transaction Passports […].”

The Instruction was registered with the Ministry of Justice on 15 August 2013.

According to the amendments:

  • it will be necessary to file deal passports not only for lease agreements with respect to immovable property, but also for lease agreements with respect to movable property;
  • if an agreement provides for payments using a resident’s overseas account, then (i) the term for processing of a deal passport with respect to such agreement by a bank may take up to ten business days (as opposed to three business days in other cases) and (ii) when filing documents for opening a deal passport with a bank, a resident is to provide to the bank a notice sent to, and accepted by, the tax authorities of the opening of the overseas account;
  • residents will no longer need to provide customs declarations to banks (given the data on the customs declarations registered by the customs authorities is to be transferred to banks by the customs authorities as per Government Resolution No. 1459 of 28 December 2012).

In addition, the changes relate to the procedure of submission of the so-called ‘confirming documents’ to banks, codes of currency operations, the procedure for changing, by residents, of currency control related documents drawn up by banks and the procedure for keeping banking control records.

The Directive entered into force on 1 September 2013, save for a number of provisions that will enter into force later (the majority of the provisions will enter into force on 1 October 2013).