Material author:
Russian investors complain to the regulator that they are deprived of a tax deduction when replacing a broker managing an IIS. The mass transition was caused by the sanctions that hit the Russian banking sector.
Experts from the Ministry of Finance and the Bank of Russia have developed amendments to the tax code. Their adoption will allow IIA owners to retain the right to a tax refund in the event of transferring their assets to another broker. This information was confirmed by the Ministry of Finance. According to representatives of the department, work is now underway to transfer assets, which will not deprive the account holder of the required benefits. But whether the amendments will apply to those who have already carried out this transfer is still unknown.
The problem with the loss of the right to a tax deduction for investors appeared when a number of Russian banks found themselves under Western sanctions and lost the opportunity to participate in trading on foreign markets. Investors had to transfer their IIS to other brokers in order not to lose their invested funds.
