Economist Kolganov: cashless payments will give more control to tax authorities
Photo: Anatoly Zhdanov / Kommersant
The rejection of bills will allow automating accounting and giving tax services greater control over the movement of money in the economy, says economist and leading researcher at Moscow State University named after Lomonosov (MSU) Andrei Kolganov. He spoke about the advantages of switching to electronic payment systems in an interview with Lenta.ru.
“In my opinion, the absence of the need to work with paper money to a large extent ensures the automation of the processing of accounting statistical information. Plus, this strengthens the control of the tax authorities over the real movement of money in the economy, over the timeliness of tax receipts and over the legality of operations, “Kolganov is sure.
This simplifies the settlement system.
Andrey Kolganovoeconomist
When electronic settlement becomes widespread and enters into everyday practice, it creates savings in transaction processing, the specialist believes.
Cash withdrawal has also been talked about in the UK. Bank of England Deputy Governor John Cunliffe believes that banknotes are gradually disappearing from the country's economy. Cash was the dominant payment method for UK citizens until 2016, he said. After that, they gave way to operations using bank cards.
