National Association of Stock Market Participants, which includes Brokers, management companies, depositories and so on, sent a letter to the Ministry of Finance with proposals for tax support for investors in the securities market. The news about it came 4 March on the NAUFOR website.
Association believes, that these measures can stabilize the financial market, adapt it to new conditions and keep the interest of Russian investors in it, primarily private. Here's what they suggested:
- Cancel NDFL and income tax on coupon and discount income on government securities and corporate bonds, denominated in rubles and foreign currency.
- Cancel personal income tax on income received in the form of dividends on shares of Russian issuers.
- Cancel personal income tax on income, payable on units of mutual funds.
- Cancel personal income tax and tax on income from operations with securities in terms of income, caused by changes in foreign exchange rates, — that is, exclude the taxation of currency revaluation.
- Cancel tax on income from securities transactions for non-residents, traded on the Russian organized market, and income tax on such securities, as well as on income from operations with units of mutual funds.
- Increase investment tax deduction for a contribution to individual investment accounts with 400 000 to 1 000 000 R per year.
- Reduce the holding period of securities, eligible for deduction for long-term ownership, from three years to one year and increase the maximum amount of this deduction from 3 000 000 to 9 000 000 R per year.
- Withhold personal income tax on transactions in the securities market only at the end of the calendar year, without withholding personal income tax by a tax agent during the year.
- Simplify the procedure for balancing current period losses in the financial market with deferred income when calculating overpaid personal income tax.
Previously, NAUFOR proposed four ways to support the Russian securities market.
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