Anonymous owners of securities will impose with the TOP maximum tax
Anonymous owners of securities
Owners of the Russian securities who hide information on, will pay the maximum profit tax at a rate of 30 percent. Such amendments in the Tax code are directed on consideration in the State Duma. The purpose of changes – fight against offshore zones. However experts doubt efficiency of these measures. In their opinion, transition of business to the offshore is connected not only with leaving from taxes.
New amendments to the Tax code concern obtaining information on final beneficiaries of private joint-stock companies, and also expands some articles about a profit tax of the organizations and the income of individuals. Authors of the document suggest to raise the maximum rate of a profit tax to 30 percent if the owner does not provide full information on. Today the rate of the personal income tax is equal 13 percent, for the Russian organizations the profit tax makes 20 percent, and for nonresidents of 30 percent. It is supposed that at payment of the income on securities tax assignments will be held by depositary which carries out functions of the tax agent. The broker and the entrusted managing director too will have the status of tax agents.
Lawyers argue that these amendments will strike blow to owners, at which small volume of securities. Professional participants and the large companies have tens ways to hide information on and to pay on a low scale of a tax. For example, the preferential rate of a tax under the contract Kuwait – Russia can reach 0 %. Besides, after adoption of amendments there are individuals who will pay 30 percent of a tax, but to open themselves do not begin. It is possible to carry to them the corrupted officials and persons who got the actual control over assets of the Russian companies in the illegal ways.
Experts note that the capital is deduced in the offshore companies from Russia for increase of protection of commercial transactions as the Russian legislation and laws are not rather developed. It is necessary for authorities to develop own judicial system and to eliminate problems with protection of the rights of businessmen and investors. While it will not be people will use offshore zones. According to Ernst & Young, in 2011 from Russia in the offshore it was deduced about 38 billion dollars.