A bill to abolish benefits for long-term ownership of shares of foreign companies was submitted to the State Duma. Currently, investors are exempt from paying personal income tax on the sale of such shares if they have held them for more than three years. This will not affect securities of Russian issuers.
The government has submitted to the State Duma a bill on the partial abolition of benefits for long-term ownership of shares of foreign companies. Its text is published in the legislative support system. The document was sent for consideration to the Budget and Tax Committee of the State Duma.
The bill proposes the elimination of benefits for the payment of personal income tax on the sale of shares of foreign issuers. Currently, investors are exempt from paying personal income tax for the difference in the purchase and sale of said shares if they have owned them for more than three years. It is proposed to cancel this benefit.
“The provisions provided for in the bill will help create favorable fiscal conditions for long-term savings of citizens,” says the explanatory note to the bill.
An exception will be securities of issuers registered in one of the EAEU countries, for example, Belarus, Kazakhstan, Armenia, Kyrgyzstan. The authors of the initiative clarified that the abolition of benefits will not affect the shares of Russian issuers.
Author:
Kirill Bilyk
Source: RB
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