The Ministry of Finance intends to strengthen control over recipients of budget funds
The Russian Ministry of Finance plans to amend the Code of Administrative Offenses.
The amendments will affect the rules for using budget funds.
The agency is currently developing a draft regulatory act, Izvestia writes.
At present, in the Russian Federation, administrative liability exists only for violation of the conditions for the provision of budget funds.
The new changes are intended to expand this responsibility.
Now fines will also be applied in cases where companies made mistakes in financial reporting on budget funds and untimely submission of documents.
The amount of fines for companies and individual entrepreneurs has not yet been established.
The Ministry of Finance believes that eliminating violations will increase the reliability of budget accounting.
If the document is adopted, the changes will affect tens of thousands of companies, including small businesses.
