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

he 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

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