Russian owners of IIA will retain the right to a tax deduction under sanctions
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Russian President Vladimir Putin signed a law, according to which the owners of individual investment accounts (IIA) retain the right to a tax deduction when transferring foreign securities to other market participants. Document published on the official portal of legal information.
IIS is an investment account with which you can trade on the stock exchange: buy currency, stocks, bonds and other securities. Part of the investment can be received back in the form of tax deductions from the state. You can withdraw money from the IIS only when it is closed.
According to the document, the operation of the IIA agreement will not be suspended when foreign securities are transferred from one professional participant to another due to sanctions. The amendments apply to legal relations related to the termination of accounting for such securities on IIS from February 24, 2022.
By data Moscow Exchange, in November the number of IIAs increased by 51.9 thousand, to 5.7 million. The turnover on IIAs since the beginning of 2022 amounted to 1.6 trillion rubles, in the structure of turnover 88.7% – transactions with shares, 4.3 % – with bonds, 7% – with exchange-traded funds.
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