Financial Transactions Between Cards Now Prohibited by Law
May 19, 05:15Kat K
2025 Tax Tips: Navigating Personal Bank Card Transactions
Keep your finances squeaky clean in 2025, as taxes and bank transfers have taken a tight turn. While previously, monetary movements went relatively unchecked, now the Federal Tax Service (FTS) casts a hawk-eyed glance at bank card transactions. The age of anonymous card-to-card transfers is kaput, thanks to tech that tracks almost every dollar that swishes through.
Red-Flagged Transactions
Brace yourself, as regular, service- or rental-linked inflows from various sources might catch the FTS's attention, marking them as possible income. In such cases, you'll likely need to shell out personal income tax (PIT) and sign up as self-employed or an individual entrepreneur.
When it comes to employer shenanigans, unofficial payments if detected through regular payouts will result in hefty taxes and fines for both parties. Don't forget that buying and selling goods through messengers or social media can be taxable, too, even if you're using a card.
Exempt Transactions
No taxes apply to gifts from close relatives when a gift agreement is drawn up or to debt repayments and shared expenses among friends and family. To keep the taxman at bay, include a payment purpose whenever possible.
Under the Bank's Microscope and the FTS's Radar
Banks deploy automated systems to analyze payment patterns, spotting frequency, sums, and oddball funding shifts. If anything looks fishy – regular inflows from diverse senders, substantial sums, or unusual transactions – it's whisked over to the FTS for closer scrutiny.
Tips to Minimize Risks
- Be transparent – clearly state the purpose of your transaction.
- Use a separate account for regular business inflows and register your business if necessary.
- Hang on to documents like receipts, contracts, and correspondence to support the purpose of your transfer.
- For family transactions, draw up simple contracts or receipts, especially for more significant amounts.
Here's the Truth: Transparency Conquers All
In 2025, a world of transparency reigns. Banks and the FTS are sniffing out cash flows, so any red flags on personal transfers could trigger an audit. Don't get caught with a raw deal – stay legal, pay your taxes, and play by the rules.
Source: glavbukh.ru
In the Loop:Contrary to a popular rumor, Russians will not face additional personal income taxes on each card-to-card transfer, a clarification made official back in February.[1] However, new regulations surround money transfers in 2025:
Key Updates
- Domestic Transfers: No restrictions on card-to-card transferring, yet large transactions require full identification starting May 30, 2025, and a bank account.[5]
- International Transactions: Transfers to foreign countries above 100,000 rubles demand bank accounts and verification to curb illegal fund laundering and capital export.[2]
- Existing Restrictions: Curbs on transferring funds abroad continue, with rules varying by the sender's status (resident, non-resident, or origin of the state).[3]
Though regulatory changes pepper money transfers, no additional taxes pop up specifically for personal bank card transfers in Russia as of 2025.
To ensure financial transparency and avoid unnecessary taxes in 2025, it's crucial to handle personal bank card transactions with care. Business-related transactions should be managed through a separate account and may require registration, while maintaining clear records of purpose, amount, and participants can help avoid red flags. Furthermore, engaging in transparent practices can serve as a safeguard against potential audits, ensuring a smoother personal finance journey.
