Individual investment account holders will retain the right to receive a tax deduction when transferring foreign securities between brokers. The corresponding law entered into force on December 28.
The text of the law signed by Vladimir Putin is published on the legal information portal. The law, which entered into force on December 28, solves the problem of the so-called duality of individual investment accounts (IIA).
Difficulties arose when, after the introduction of sanctions against Russian banks after the start of the military operation in Ukraine, brokers began to transfer foreign securities of their clients to each other. Because of this, investors forfeited the right to receive an IIA tax deduction.
The law provides for the cancellation of the termination of the AII agreement for the transfer of securities from broker to broker due to the imposition of sanctions. The rule applies to relationships that arose on or after February 24 of the current year.
Earlier, the Belgian and Luxembourg Finance Ministries issued licenses to unlock the assets of Russian investors frozen in international deposits, the amount of which is estimated at 6 trillion rubles. However, the Bank of Russia warned that issuing licenses does not guarantee the release of assets.
Author:
Kirill Bilyk
Source: RB
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