The State Duma rejected the bill on insurance of funds for IIS – Kommersant
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The State Duma rejected in the second reading bill, which introduces insurance of citizens’ funds on individual investment accounts (IIA). The departments were unable to form a unified position when adopting a bill developed back in 2017. As a result, the approval of the document was delayed, and it was recognized as inappropriate.
“During the work on the draft law, it was not possible to develop a single agreed position on the above issues, as well as to eliminate the main comments received by the committee on the text of the bill. Considering the term of work on the bill and the lack of an agreed position on the main provisions of the bill, the committee believes that the adoption of the bill under consideration is inexpedient,” reads the review of the financial market committee.
However, according to the responsible committee, the Ministry of Finance has prepared a draft law establishing new rules for regulating individual investment accounts.
The rejected bill proposed to set the maximum amount of payment upon deprivation of a broker’s license at the level of 1.4 million rubles. It was assumed that the sources of financing for the investment insurance fund would be contributions from professional participants in the securities market – these funds were to be accumulated by the Deposit Insurance Agency.
The Central Bank supported the idea of insuring individuals’ funds on individual investment accounts, but opposed their inclusion in the system of the Deposit Insurance Agency. During the discussion of the document of the working group under the State Duma, the deputies drew attention to the voluntary, and not mandatory contributions of brokers to the system. As a result, the adoption of the bill was delayed.
The IIS system has been operating since 2015. An account for an individual can be opened by a broker or trustee. For accounts of the first type, a tax deduction is provided – 13% annually for a contribution of no more than 400 thousand rubles. Thus, an investor can receive 52 thousand rubles annually. tax deduction. The maximum contribution amount is 1 million rubles. in year.
For accounts of the second type, upon withdrawal of funds (not earlier than three years after opening), exemption from payment of tax on income received is provided.
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