The regulator proposes to exempt from personal income tax revenues from private investors if they hold the bond until maturity. This applies to all traded debt securities, said Tchaikovsky. “As we stimulate long-term investment, we think proper not to tax the entire amount that a person receives upon redemption of the bonds,” she said.
With regard to mutual investment funds (mutual Funds), then, according to the Central Bank, the tax should not be subject to the difference between the purchase and sale investment unit. “This applies to funds of securities, regardless of the fact that they are investing in stocks or bonds. The only condition is that the Fund’s portfolio must be at least 90% of the securities,” said Tchaikovsky.
Now the state Duma considers the bill, tax-exempt income from investments in bonds issued in 2017-2020. Personal income tax will not be charged only with the coupon income on bonds. Thus, if the investor earned due to the revaluation of the value of the bond, with this difference he will have to pay taxes to the state. The Bank also plans to make amendments for the second reading of the bill.
Earlier, the government instructed the Ministry of Finance to consider amendments to the bill relating to the taxation of income from marketable bonds, and mutual Funds investing in debt instruments. The initiative is exempt from income tax private investors belongs to President Vladimir Putin, who in December 2015 in annual address to the Federal Assembly has asked the government to submit proposals for the development of the corporate bond market and release of the coupon income on the bonds from taxation, including personal income tax.