In the state Duma introduced a draft on restriction of cash payments at the reception of scrap metal

© RIA Novosti / Natalia to Seliverstova in fotomancer on the building of the State Duma on Okhotny Ryad street in Moscow. Archival photoIn the state Duma introduced a draft on restriction of cash payments at the reception of scrap metal© RIA Novosti / Natalia to Seliverstova the image Bank

Deputies Andrei Lugovoi, Irina Gusev, Sergey Hook and Boris Paikin in the Duma introduced a bill aimed at the restriction of cash payments at the reception of the citizens of scrap and waste of non-ferrous or ferrous metals should be from the database of the lower house of Parliament.

The document provides for mandatory cashless payments when receiving from citizens of scrap and waste of non-ferrous or ferrous metals in the amount exceeding 10 thousand rubles. At the same time it is determined that the total amount of cash settlements for one individual may not exceed 50 thousand rubles per month.

The bill aims «to improve the regulation of circulation of the wastes of production and consumption in part of payment for leased metallurgical enterprises and procurement organizations of scrap and waste of ferrous and non-ferrous metals», explained the developers.

They note that currently the industry a number of challenges remain that prevent its effective development. «One of such problems is the implementation of calculations in cash in case of purchase of scrap. According to statistics, the volume of cash turnover is 95%. And only 5% of the payments carried out by Bank transfer», — stated in the explanatory note to the bill.

The industry of collection and recycling of scrap removed significant amounts of cash from Bank accounts for settlement with the sellers of scrap, say the authors of the legislative initiative. This settlement procedure is familiar to market participants, given the lack of alternatives in the history of the development of the industry. While uncontrolled withdrawal of cash stimulates the development of shadow schemes and draws attention and mistrust on the part of regulatory authorities, which adversely affects bona fide participants of the market, say developers.

The use of non-cash forms of payment, in their opinion, «completely minimizes» these risks, and the information about the calculations of the industry becomes transparent for the banks, service processors, and the Bank of Russia, FTS and Rosfinmonitoringa that get access to settlement and the identity of recipients of funds. «At the same time existing in the market of banking services enable individuals to comfortably use the funds received to Bank accounts for delivery of scrap for subsequent settlement or cash withdrawal» — explain the authors of the bill.

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