THE MINISTRY OF FINANCE WILL NOT EXEMPT DIVIDENDS ON IIS FROM PERSONAL INCOME TAX

THE MINISTRY OF FINANCE WILL NOT EXEMPT DIVIDENDS ON IIS FROM PERSONAL INCOME TAX

THE MINISTRY OF FINANCE WILL NOT EXEMPT DIVIDENDS ON IIS FROM PERSONAL INCOME TAX
The agency will not support the initiative to exempt dividends received on individual investment accounts (IIS) from personal income tax, said Deputy Finance Minister Ivan Chebeskov. Such a proposal was previously put forward by the head of the State Duma Committee on the financial market, Anatoly Aksakov.

Aksakov believes that income from the sale of shares acquired during a public offering on the stock exchange should be exempt from taxes. Even if the shares disappear in a year, such conditions should apply, the deputy said.

Currently, the legislation establishes that in order to be exempt from personal income tax, an investor must own securities for three years or more. Aksakov also explained that it is necessary to exempt from tax dividends on shares of domestic issuers that were purchased through the AIS.

The Central Bank supported this initiative, but the regulator added that it had not received such proposals.

Ivan Chebeskov said that due to the ongoing transformation of the tax system, the Ministry of Finance cannot exempt dividends on IIS from personal income tax.

27.04.2024