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Currency difference gained from foreign currency securities transactions may become exempt from income (profit) tax.
DATE: November 26, 2015 | AUTHOR: atlawyers
Currency difference gained from foreign currency securities transactions may become exempt from income (profit) tax. National Association of Stock Market Traders (hereinafter – the Association) has elaborated draft amendments to the RF Tax Code, exempting individuals and companies from taxation of income (profit) gained from securities transactions made in foreign currency received as a result of currency fluctuations. The Association proposes that the difference between the income and the expenses expressed in foreign currency, re-calculated into rubles under the RF Central Bank rate at the date of gaining the income, shall be subject to taxation.