12.12.08

The Ministry of Finance wants to introduce additional income tax incentives for investing in securities starting in 2010.

The Ministry of Economic Development the initiative for this in mid-October. The Office forwarded a draft law to the Ministry of Finance. The draft law would allow private investors to earn, tax free, up to 10 million rubles on the sale of stocks or securities traded on public markets. The personal income tax is currently at a 13%.

However, the Ministry of Finance believes a deduction of 10 million rubles is too large.

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