Sergei Tarasevich discussed with Cbonds Weekly News the changes in taxation of income in the form of material benefit

In 2024, the privilege of exemption from personal income tax on material benefit will no longer apply to investors who purchased a security at a discount of more than 20% from the market price. It is assumed that tax will start to be deducted from the material benefit from the purchase of securities bought this year. However, personal income tax will also have to be paid by those investors who bought assets at below market price last year, but paid for them only this year. Lawyers specify that for such transactions tax will be written off regardless of whether the securities have been transferred to the Russian circuit or not.

At the request of Cbonds Weekly News, Sergei Tarasevich, Associate of Tax & Administrative Law Practice at Maxima Legal, explained how critical the change will be for investors, as well as whether IIS-3 will solve the issue of taxation of material benefit.

To watch the programme (in Russian), please, see Cbonds Weekly News on YouTube >>>