Market Taxation Guide - Russia
This Market Taxation Guide (Russia) provides the following details:
- Reference information about all taxes applied at source, through Clearstream Banking and its local depositories, to securities deposited in Clearstream Banking; and
- Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.
New and improved tax information and procedures that become available will be included on an ongoing basis.
Important note:
This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.
Withholding tax
The withholding tax rates currently applicable are as follows:
OFZ and Municipal Bonds | Holding restriction? | Standard/Maximum Withholding tax rate | Relief at | Quick | Standard |
No | 0% until 31 December 2020 30% as of 1 January 2021 | ||||
Residents of a Double Taxation Treaty (DTT) country | Yes | Yes | No | ||
Supranational organisations recognised by Russian law | Yes | Yes | No | ||
Russian legal entities | Yes | Yes | No | ||
Russian individuals | Yes | Yes | No | ||
Non-Resident legal entities | Yes | Yes | No | ||
Corporate Bonds | Holding restriction? | Standard/Maximuma Withholding tax rate | Relief at | Quick | Standard |
No | 20%/30% | ||||
Residents of a Double Taxation Treaty (DTT) country | Yes | Yes | No | ||
Supranational organisations recognised by Russian law | Yes | Yes | No | ||
Russian legal entities | Yes | Yes | No | ||
Russian individuals | Yes | Yes | No | ||
Non-resident legal entities | Yes | Yes | No | ||
Mortgage-backed Bonds | Holding restriction? | Standard/Maximuma Withholding tax rate | Relief at | Quick | Standard |
No | 15%/30% | ||||
Residents of a Double Taxation Treaty (DTT) country | Yes | Yes | No | ||
Supranational organisations recognised by Russian law | Yes | Yes | No | ||
Russian legal entities | Yes | Yes | No | ||
Russian individuals | Yes | Yes | No | ||
Non-resident legal entities | Yes | Yes | No | ||
Equitiesb | Holding restriction? | Standard Withholding tax rate | Relief at | Quick | Standard |
No | 15% | ||||
Residents of a Double Taxation Treaty (DTT) country | Yes | Yes | No | ||
Supranational organisations recognised by Russian law | Yes | Yes | No | ||
Russian residents | Yes | Yes | No | ||
a. 30% applicable on undisclosed holdings and to individuals beneficial owners that are not resident of a DTT country.
b. This tax guide does not cover Depository Receipts with Russian underlying securities.
Capital gains tax
There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
Stamp duty
There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.