The State Duma abolished the benefit for long-term ownership of foreign securities
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The State Duma in the third reading adopted a bill that abolishes the three-year tax benefit for personal income tax on the sale of foreign securities. The project concerns securities traded on Russian stock exchanges, with the exception of securities of the countries of the Eurasian Economic Union (EAEU).
“The provisions provided for by the bill will contribute to the creation of favorable tax conditions for long-term savings of citizens and, accordingly, the influx of investments into the financial market,” says the explanatory note. note to the document.
The bill was submitted to the State Duma by the Financial Market Committee in October 2023. According to the changes, the benefit will not apply to foreign shares, bonds, ETFs that are traded on Russian stock exchanges.
According to current legislation, profits from the sale of securities can be exempt from tax if the owner has owned them for more than three years. The deduction can be claimed for any year in which securities were sold at a profit. Its maximum amount is 3 million rubles. in year.
Read more about tax benefits in the text of Kommersant. “Businesses were warned about excess benefits”.
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