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Good day to you, dear readers! The topic of our today's article is the tax on securities. I will tell you the essence and specifics of determining the tax base.

In previous articles, we considered with you how you can make a profit from, therefore, to fully characterize such earnings, you need to figure out the payments that will reduce it.

Types of deductions and specifics of determining the tax base

First, you need to figure out what kind of taxes on securities an investor needs to pay:

for government municipal bonds - coupon payments on such securities are not subject to mandatory payments;
on dividends on shares - it is equal to 9% of the payments received, and it is charged even before transfer to the shareholder's account (the amendment was made since 2015 by 13%);
for other income from operations related to securities - it is equal to 13%.

The tax base for the latter type is equal to the exchange rate difference between the funds spent on the purchase, resale of the asset (futures, options, shares) and the direct costs of maintaining the account. Indirect costs such as Internet fees are not deducted.

Direct deductible and deductible income tax costs include payments for services rendered by the depositary and registrar, management fees, exchange fees, and other expenses directly related to the purchase and storage of assets.

The calculation of the tax base for sale and purchase transactions depends on the method and time of the acquisition of assets. It is calculated using the FIFO method, which means that the first purchased shares are sold first.
All direct costs incurred by the investor must be taken into account.
The period of sale of shares, bonds, and the day of actual receipt of income.
The amount of income from this activity depends on the way assets are sold on the stock exchange: under a contract of order, trust management, and other types of similar contracts.
When a loss is incurred on operations in the securities market, the levy base is reduced by its amount.
If there are securities belonging to different categories, the amount of payments is calculated separately for each of them.
Gift tax (13%) is paid by recipients (except for relatives of the first line), and there is no need to pay the tax upon inheritance.
The value of assets for which the personal income tax was paid is deducted from the tax base.
In case of bankruptcy of the issuing company and the absence of payments on obligations to its investors, the losses incurred do not affect the amount of the mandatory payment.

When do you have to pay?

In case of receiving income from transactions of sale and purchase of shares, the tax must be paid for the financial result obtained from investment activities, respectively, reduced for all the points discussed above.

In simple words, an investor pays income tax only if his investment is profitable. At the same time, the tax period is the entire calendar year, and payments for the previous year are made at the beginning of the period following the reporting period.

The tax return for the previous year for mandatory payments of income must be filed by April 30th. At the same time, legal entities (companies) make payments on their own, and a private investor (individual) can calculate and pay the required amount himself (the declaration can be filled out on the website nalog.ru and paid by July 15), or through a broker on an organized exchange market (in Russian practice, this method is mainly used).

The broker in this case acts as a tax agent for the operations of private investors and calculates and makes all payments to the budget himself. The client only needs to agree with the calculations and check the account balance sufficient to pay tax.

Are there legal ways to reduce payments?

The answer to this question, I think, interests any investor, especially at the end of the year. There are not very many such ways, but there are still:

Considering that the profits and losses from different investments are not summed up (and the loss from some investments does not overlap the profit from others), it is necessary that the maximum number of investments in shares, futures and options be registered on one broker account and on a single trading platform. If an investor has opened accounts with different brokers, then they should be reduced as much as possible.
Transfers of shares from different brokers must be documented with an indication of the purchase price of this security, otherwise the new broker will equate it to zero, and then the tax will have to be paid not on profit, but on the full sale price of the share.
When a profit is generated at the end of the year, but there are securities with uncovered losses, then they need to be closed, and the sold shares should be bought. These actions will reduce the tax base. But there is no need to mark the loss more than the profit, otherwise in the future this will lead to an increase in mandatory payments to the budget.
Since 2010, it is possible to carry forward the resulting loss ten years in advance, which means that they can cover all the profits that will be generated during this period. The broker should be notified of this before declaring, and supporting documents should be provided.
There are two property deductions on the OTC market (shares of the innovation sector held for at least 5 years, and ownership of non-tradable securities for 5 years).

What is the penalty for non-payment?

In case of late filing of a tax return, or its absence at all, the debtor faces a fine equal to 5% of the unpaid amount for each overdue month. However, the fine cannot be higher than 30% of the total amount of the tax, but also not less than 1,000 rubles.

Thus, today we examined what taxes are paid on income on securities, their amount, and what affects it, as well as who makes calculations and payments on them.

Although today's topic is not entirely exciting, it is really necessary, and you need to know it! I hope you haven't regretted reading it. I would like to wish you successful income and investment!

All the best and see you soon!

“No, you have to pay tax on shares and dividends”, or “You don't have to pay tax on shares and dividends”?

Income tax on the sale of shares by an individual is a very serious issue, because tax evasion is a criminal offense in Russia and foreign countries. A professional trader must be sure of the absolute financial cleanliness of his activities.

Below we will try to sort everything out and answer all the taxation questions in the securities market.

The content of the article:

In the Russian Federation, there is a special system of tax agents who are authorized to collect taxes and transfer them to the tax office. These agents include brokerage organizations through which investors trade on the stock exchange. Let's take a look at this system using an example. A private investor opens an account with a Russian brokerage company. In the future, it is the broker who is legally responsible for timely tax payments on behalf of his client.

What are the taxes on securities (shares)

What tax on securities should a trader pay and how much is it in numbers? Of course, this is income tax. In Russia, the personal income tax rate is 13% and does not have a progressive scale. If everything is clear with the receipt of a salary ( the employer simply pays the amount less by the rate), then there may be ambiguities with the procedure for paying personal income tax on the exchange.

By buying shares, like any commodity, an investor can sell it for a higher price. It is from this difference in the purchase price and the sale price (if it is positive) that the broker will withhold 13% tax and transfer it to the inspection. Personal income tax is debited from the brokerage account in 2 cases: at the end of the tax period (beginning of the year) and when funds are withdrawn from the brokerage account.

Let's give an example. The investor acquired 10 shares of Gazprom on June 15 at a price of 100 rubles. On November 11, 2016, he sells these securities at a price of 110 rubles. The total profit should be 100 rubles (10 rubles per 10 shares).

If the investor immediately withdraws funds (for example, on November 20), then immediately, upon withdrawal, the broker calculates his tax on the sale of shares by an individual and deducts the required amount (from 100 rubles of profit, 13% will be withheld in the amount of 13 rubles) and on hand you can get 87 rubles (100-13 = 87).
If the investor does not sell shares before the beginning of next year, then income tax will be written off next year. Thus, in January, the broker will withhold personal income tax from the client's account from the profit that will be formed on December 31.

But what if there are no funds on the client's account? Then the broker will wait for the moment when the securities are sold so that tax can be paid from the resulting amount of funds.

It is not uncommon for stocks to show positive dynamics at the end of the year, and by the middle of the next one, they dropped significantly in price, as a result of which the trader must pay personal income tax, even if technically he received a loss.

This is because there was no money on the client account before the new reporting period, and it was not possible to write off the tax. And when the funds appeared, the broker, as a tax agent, is obliged to write off the unfortunate 13%.

How can you pay tax on the sale of shares even with a loss

It is important to know the important nuances of legislation here. Within one reporting period ( calendar year), the broker has the right to settle ( deduct profit from loss to determine the real tax base). But if the loss covers the profit in the next year, as described in the example above, then the only way to get a balancing is to go directly to the tax authority with the reports certified by the broker.

In order to prevent such a situation, responsible brokers often advise their clients to close positions on the stock market before the start of the new year, so that personal income tax can be written off from the profits without any problems.

Another important nuance is the method by which the sale and purchase of securities is recorded. There are 2 ways in total:

LIFO (Last in, First out)
FIFO (First in, First out)

LIFO method (in translation: the last to enter, the first to leave) works on the principle that the acquired shares on the account will be the last to be sold first upon the sale order. An example is indispensable here. The investor buys 5 shares at a price of 100 rubles, then, a week later, buys 5 more shares at a price of 120 rubles. A week later, the share price continues to rise and reaches 130 rubles per share.

LIFO method when a trader puts up 5 shares for sale, those shares that were bought last, that is, purchased at 120 rubles, will be sold. Accordingly, the tax will be deducted from 10 rubles of profit (130-120). On 5 shares, the profit will be 50 rubles (respectively, 13% will be 6.5 rubles), and the profit, cleared from tax, will be 43.5.

FIFO (First In, First Out) is diametrically different from LIFO. In our example, 5 shares will be sold first, bought at 100 rubles, and only then 5 shares, bought at 120. Accordingly, this will affect the size of personal income tax. Now the total profit will be 150 rubles, and the tax - 19.5 rubles. The investor will have at his disposal a profit of 130.5 rubles.

By default, most brokers use the FIFO method, which is the most convenient for trading. However, some companies may change the method at the request of the client to LIFO.

How not to pay tax on the sale of shares

The most pressing taxation issue is, of course, the question of how not to pay tax on the sale of shares. The easiest option is to use brokerage companies registered in Cyprus and other offshore territories where you do not need to pay tax.

There is another way not to pay taxes on the sale of shares - this is to open an individual investment account (IIA) by working with brokers with Russian registration and Russian assets. According to the legislation of the Russian Federation, an individual has the right to open such an account and trade shares on it without paying taxes. An investor can open only 1 such account. If he decides to change his broker, then he will have to close his IIS with him and open it in the company where he leaves.

Unfortunately, there are certain criteria that a trader must fulfill in order not to pay taxes on the IIS.

First, such an account must last for at least 3 years.
Secondly, during these three years, the investor should not withdraw funds.
Thirdly, the amount of the deposited funds cannot exceed 400 thousand rubles. Accordingly, only rubles can be deposited on the IIS and financial instruments can be bought in the same currency, which are traded only on the Moscow Exchange. MICEX.

But, at the onset of the reporting period, or when withdrawing funds, the broker simply will not withhold personal income tax from the profit.

In addition to profit from the growth of market value, investors can receive passive income from their assets. First of all, we are talking about dividends and coupons. Dividends are paid to the owner of the share and they are also taxed. 13% upon payment is kept by the broker and transferred to the inspection in a standard way.

Taxes have not been withheld on bond coupons since 2017, so you no longer need to worry that part of your income will go into the pocket of the government.

Instead of output

If you work through a Russian broker and work only on the Moscow Exchange, then in order to avoid tax, start an IIS or buy securities for many years. In our reality, this contains a lot of risk and the benefits were made for a reason.

If you want to work in all markets, including NYSE, NASDAQ, XETRA, LSE, TSE... then the best choice would be a Russian broker not with Russian registration, for example or.

By understanding the mechanism of tax payments, an investor can more accurately calculate the profitability of his activities and receive additional benefits, where possible. In some cases, investment income reaches 30-40% only on those funds that the trader saved on paying personal income tax.

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In accordance with paragraph 2 of Art. 226.1. Of the Tax Code of the Russian Federation (hereinafter referred to as the Tax Code of the Russian Federation) VTB Bank (PJSC) (hereinafter referred to as the Bank), as a broker carrying out operations with securities and (or) operations with derivative financial instruments (hereinafter referred to as PFI) on the basis of an agreement on brokerage services, recognized by the client's tax agent, determines the client's tax base, calculates, withholds and transfers the amounts of personal income tax (hereinafter - personal income tax) to the tax authorities for all operations carried out by the Bank in the interests of the client in accordance with the above agreement.

Procedure for withholding personal income tax

Individuals who have entered into an agreement for brokerage services are taxpayers in accordance with clause 1 of article 207 of the Tax Code of the Russian Federation.

In accordance with clause 2 of article 207 of the Tax Code of the Russian Federation, tax residents are individuals who actually stay in the Russian Federation for at least 183 calendar days within 12 consecutive months. Individuals who are actually located in the Russian Federation on the territories of the Republic of Crimea and (or) the federal city of Sevastopol for at least 183 calendar days during the period from March 18 to December 31, 2014 are also recognized as tax residents.

To confirm the status of a tax resident, a non-resident individual may submit to the Bank one of the following documents confirming his residence in the Russian Federation:

Passport with marks of entry and exit from the territory of the Russian Federation;
Certificate 2-NDFL with the application of the time sheet of the organization located in the territory of the Russian Federation;
Certificate from the place of work in the Russian Federation;
Migration card.

The tax rate in accordance with Article 224 of the Tax Code of the Russian Federation is established:

For tax residents - 13%;
For individuals who are not tax residents - 30%.

The tax is calculated and withheld in the following cases (clause 7 of article 226.1 of the Tax Code of the Russian Federation):

At the end of the tax period for the past year;
When funds are paid (withdrawal of securities) before the end of the tax period;
Upon termination of the contract.

In accordance with clause 10 of article 226.1. The Bank withholds taxes only from ruble funds held in the client's brokerage accounts.

In case of payment of funds in foreign currency or withdrawal of securities in the absence of ruble funds on the brokerage account, the client has a tax debt that will be withheld by the Bank when the ruble funds are received to the client's brokerage account.

Determination of the tax base (income from which tax is withheld) within the framework of a brokerage agreement.

Please note that the determination of the tax base takes place cumulatively for all customer sub-items! When opening a separate sub-item, the client should be aware that transactions made with the use of funds and securities from this sub-item fall into the total volume of transactions when determining the tax base, and also that the tax amounts subject to withholding will be deducted regardless of the sub-items, since transactions are performed under one brokerage service agreement.

When determining the tax base, the income received by the client from operations carried out by the Bank in the interests of the client within the framework of the brokerage service agreement is taken into account. Such operations include:

purchase and sale (redemption) of securities circulating on the organized securities market (for examples - the organized securities market);
purchase and sale (redemption) of securities that are not traded on the organized market (for examples - NORTSB);
purchase and sale of derivative financial instruments (futures and options) traded on the organized securities market (for examples - PFI1, the underlying asset of the Central Bank - PFI1CB, the underlying asset of a non-Central Bank - PFI1nCB);
purchase and sale of derivative financial instruments (futures and options) that are not traded on the organized securities market (for examples - PFI2);
REPO transactions (for examples - REPO);
operations related to the opening (closing) of short positions (for examples - CP).

ATTENTION!!! In case of receiving income not to Personal accounts (306) (hereinafter - brokerage accounts) - Redemption of securities does not apply to operations carried out under a brokerage agreement, the Bank is not a tax agent and does not determine the tax base for such operations, since the redemption of securities securities are carried out without the participation of the Bank as a broker.

Securities are classified as securities traded on the organized securities market in the following cases:

a) Securities are admitted to trading by the Russian trade organizer on the securities market;
b) Investment shares of open-ended mutual investment funds managed by Russian management companies;
c) Securities of foreign issuers are admitted to trading on foreign stock exchanges;

In this case, the securities specified in clauses a) and c) are classified as circulating if the market quotation is calculated for them.

In accordance with clause 5 of article 210 of the Tax Code of the Russian Federation, Income (expenses accepted for deduction in accordance with Articles 214.1, 214.3, 214.4, 214.5, 218-221 of the Tax Code of the Russian Federation) of the client, expressed (nominated) in foreign currency, are recalculated into rubles at the official rate of the Central Bank of the Russian Federation established as of the date of actual receipt of the said income (the date of actual implementation of expenses). Based on the above provisions of the Tax Code of the Russian Federation, income in foreign currency received from the sale of securities is recalculated by the Bank for the purpose of establishing the taxable base in rubles at the exchange rate of the Central Bank of the Russian Federation on the date of receipt of the income (receipt of funds in foreign currency to the client's brokerage account). This income is reduced by expenses for the acquisition of the same securities (in accordance with the FIFO method), which are also converted into rubles at the exchange rate of the Central Bank of the Russian Federation at the date of the expenses (debiting funds in foreign currency from the client's brokerage account). Accordingly, an increase (decrease) in the exchange rate value of the currency in which income was received (expenses were incurred) for the period from the acquisition of securities to the time of their sale, despite the absence of currency conversion into rubles on the client's account, may lead to an increase (decrease) in the taxable base for these securities, subject to the following:

From January 1, 2019, Federal Law No. 200-FZ of July 19, 2018, paragraph 13 of Article 214.1 is supplemented with paragraphs:

When selling (redeeming) bonds of external bonded loans of the Russian Federation, denominated in foreign currency, the expenses, documented and actually incurred by the taxpayer, for the acquisition of these bonds, expressed in foreign currency, are converted into rubles at the official rate of the Central Bank of the Russian Federation established on the date of actual receipt income from the sale (redemption) of the said bonds.

If the terms of the issue of bonds of external bonded loans of the Russian Federation, nominated in foreign currency, provide for the implementation of settlements upon the acquisition of these bonds in rubles, the cost of acquiring these bonds is recognized as an amount equal to the product of the cost of acquiring these bonds in foreign currency, determined on the basis of the official the exchange rate of the Central Bank of the Russian Federation, established on the date of their acquisition, and the official rate of the specified foreign currency, established by the Central Bank of the Russian Federation as of the date of actual receipt of income from the sale (redemption) of these bonds, subject to documentary confirmation by the taxpayer of the actual costs of purchasing these bonds.

The list of the client's income from operations with securities and derivative financial instruments received under a brokerage agreement

The income received by the client as a result of transactions with securities and derivative financial instruments includes:

income from the purchase and sale (redemption) of securities received in the tax period including income from these operations received in the form of interest (coupon, discount);
income from the sale of derivative financial instruments received in the tax period, including the received amounts of the variation margin and premiums under contracts;
income in the form of material benefits received from the acquisition of securities, derivatives (Article 212 of the Tax Code of the Russian Federation);
Income from REPO transactions;
Income from operations related to opening / closing short positions.

List of the client's expenses related to operations with securities and derivative financial instruments, and actually carried out within the framework of a brokerage agreement

The costs associated with the acquisition, storage and sale of securities include:

amounts paid to the issuer of securities (management company of the unit investment fund) in payment for the placed (issued) securities, as well as amounts paid in accordance with the securities sale and purchase agreement, including the amount of paid coupon yield;
the amount of the paid variation margin and (or) premiums under contracts, as well as other periodic or one-time payments provided for by the terms of forward transactions;
payment for services rendered by professional participants in the securities market, as well as exchange intermediaries and clearing centers;
expenses reimbursed to a professional participant in the securities market;
exchange fee (commission);
payment for the services of persons maintaining the register;
tax paid by a taxpayer upon receipt of securities by inheritance;
tax paid by the taxpayer upon receipt of shares or shares as a gift;
the amount of interest paid by the taxpayer on loans and borrowings received for the performance of transactions with securities (including interest on loans and borrowings for the performance of margin transactions), within the amounts calculated based on the refinancing rate of the Central Bank of the Russian Federation in effect on the date of interest payment, increased by 1.1 times - for loans and borrowings denominated in rubles, and based on 9 percent - for loans and borrowings denominated in foreign currency;
the amount of documented expenses for the acquisition (receipt) of securities in ownership on a gratuitous basis or with partial payment, as well as by way of donation or inheritance, from which the tax was calculated and paid;
other expenses directly related to transactions with securities, with derivatives, as well as expenses related to the provision of services by professional participants in the securities market, management companies that carry out trust management of property that constitutes a mutual investment fund, as part of their professional activities.

The procedure for calculating the tax base (the amount from which tax is withheld)

The financial result of the operations specified in subparagraphs 1-6 is determined as income from operations less the corresponding expenses. The financial result is determined for each transaction and for each set of transactions specified in subparagraphs 1-6.

When selling securities, expenses in the form of the cost of acquiring securities are recognized at the cost of the first acquisitions ( FIFO A negative financial result for each set of transactions specified in clauses 1 - 6 of this order is recognized as a loss.

The tax base for transactions with securities and for transactions with derivatives is recognized as a positive financial result on transactions (if the financial result is negative, then the tax base is assumed to be 0) specified in clauses 1 - 6.

Taxation procedure for REPO transactions.

Repo transactions are taxed in accordance with Article 214.3 of the Tax Code of the Russian Federation. For the purposes of taxation of REPO transactions, the actual selling (acquisition) price of a security is taken into account both for the first part of the REPO and for the second part of the REPO, regardless of the market (settlement) price of such securities.

For the seller under the first part of the REPO, the difference between the purchase price of securities under the second part of the REPO and the selling price of the securities under the first part of the REPO is recognized as:

income in the form of interest on a loan received under REPO transactions, if such a difference is negative;
expenses on payment of interest on the loan paid under REPO transactions - if such a difference is positive.

For the buyer under the first part of the REPO, the difference between the selling price of the securities under the second part of the REPO and the purchase price of the securities under the first part of the REPO is recognized:

income in the form of interest on a loan received under REPO transactions, if such a difference is positive;
expenses on payment of interest on a loan paid under REPO transactions - if such a difference is negative.

The tax base on repo transactions is defined as income in the form of interest on loans received in the tax period on the aggregate of repo transactions, reduced by the amount of expenses in the form of interest on loans paid in the tax period on the aggregate of repo transactions.

These expenses are accepted for tax purposes within the amounts calculated based on the refinancing rate of the Central Bank of the Russian Federation in effect on the date of interest payment on REPO transactions, increased by 1.8 times for expenses denominated in rubles, and increased by 0.8 times for expenses denominated in foreign currency.

Expenses in the form of exchange, brokerage and depository commissions associated with the execution of REPO transactions reduce the tax base for REPO transactions after the application of the restrictions specified in the previous paragraph.

If the amount of expenses accepted for tax purposes exceeds the amount of income specified in this clause, the tax base for repo transactions in the relevant tax period is recognized as zero.

The amount of the excess of the expenses indicated above over the income is recognized as a taxpayer's loss on REPO transactions.

In this case, income or expenses expressed in foreign currency are recalculated into rubles as of the date of their receipt (implementation) in accordance with paragraph 10 of Art. 214.3 of the Tax Code of the Russian Federation.

Clause 10 of Article 214.3 of the Tax Code of the Russian Federation establishes that for the purposes of this article, the date of receipt of income (implementation of expenses) under the REPO transaction is the date of the actual fulfillment (termination) of the obligations of the participants under the second part of the REPO.

Thus, on the date of execution of the second part of the REPO, the result obtained (income or expense) is recalculated into rubles in accordance with clause 5 of Art. 210 of the Tax Code of the Russian Federation.

According to paragraph 5 of Art. 210 of the Tax Code of the Russian Federation, income (expenses deducted in accordance with, in particular, Articles 214.1, 214.3, Tax Code of the Russian Federation) of the taxpayer, expressed (nominated) in foreign currency, are converted into rubles at the official exchange rate of the Central Bank of the Russian Federation established on the date of actual receipt of the specified income (date of actual expenses).

At the same time, with regard to REPO transactions in foreign currency, the positive or negative difference between the purchase price of securities under the second part of the REPO and the selling price of securities under the first part of the REPO (income or expense) is determined without conversion from foreign currency into rubles.

Taxation of short positions.

In accordance with Article 214.3 of the Tax Code of the Russian Federation, the opening of a short position in securities (hereinafter referred to as a short position), which is the object of a REPO transaction and is held by a buyer under the first part of a REPO, is understood as a sale by a taxpayer of a security in the presence of obligations to return securities received under the first parts of the REPO.

Please note that if a client sells securities lent by a broker during a trading session and during the same trading session buys them and returns them to a broker, as a result of which a reverse transaction is not concluded. REPO by the end of the day, it is not considered to open a short position in the understanding of the Tax Code of the Russian Federation. These transactions are included in the taxable base of operations with securities in accordance with Article 214.1 of the Tax Code of the Russian Federation and are included in the FIFO calculation.

The opening of a short position is carried out provided that there are no securities of the same issue (additional issue) owned by the buyer under the first part of the REPO, the sale of which will not lead to the opening of the specified short position.

Closing a short position is carried out by acquiring (acquiring ownership on grounds other than a REPO transaction, a loan agreement with securities) securities of the same issue (additional issue) for which the short position was opened.

A short position is closed until the purchase of securities of the same issue (additional issue) by the buyer under the first part of the REPO, the subsequent (immediate) disposal of which will not lead to the opening of a short position. In the event that transactions for the purchase and sale (disposal) of securities were simultaneously carried out within one day, the short position is closed at the end of that day only if the number of purchased securities exceeds the number of sold securities. First of all, the short position that was opened first is closed (FIFO method).

The tax base for transactions related to the opening of a short position is determined in the following order:

Income (expenses) of a taxpayer from the sale (acquisition) or disposal of a security when opening (closing) a short position is accounted for at the date of closing a short position.

The financial result (regardless of the result) on transactions related to the opening (closing) of a short position is taken into account when determining the tax base for the following transactions:

with securities circulating on the organized securities market;
with securities not traded on the organized securities market.

The procedure for calculating the tax base for the payment of funds / withdrawal of securities under a brokerage agreement before the expiration of the tax period.

In case of interim payments of funds to a client from his brokerage account to a bank account or withdrawal of securities before the end of the tax period, the tax base is determined taking into account the following features:

a) The financial result is determined for each operation and for each set of operations specified in clauses 1 - 6 of this order as of the date of payment of funds / withdrawal of securities;

c) The amount of negative financial result obtained from transactions with securities traded on an organized market reduces the financial result from transactions with securities not traded on an organized market, which at the time of their acquisition were related to securities traded on an organized market;

d) Loss on repo transactions reduces income on transactions with securities traded on the organized securities market, as well as with securities not traded on the organized securities market, in a proportion calculated as the ratio of the value of securities that are the object of repo transactions, traded on the organized securities market, and the value of securities that are the object of REPO transactions, not traded on the organized securities market, in the total value of securities that are the object of REPO transactions;

e) The financial result of operations related to a short position is taken into account when determining the tax base for operations with securities traded on an organized market and for operations with securities that are not traded on an organized market;

When funds are paid (withdrawn of securities) to a client from his brokerage / custody account to a bank / custody account before the expiration of the tax period or before the expiration of the agreement, tax is paid from the client's funds in the manner provided for in clause 11 of Article 226.1. Tax Code of the Russian Federation:

A. If the amount of tax in relation to the financial result calculated on an accrual basis exceeds the amount of the current payment of funds (income in kind), the tax is calculated and paid by the tax agent from the amount of the current payment.

B. If the amount of tax in relation to the accrued financial result does not exceed the amount of the current payment of funds (income in kind), the tax is calculated and paid by the tax agent on the amount of the accrued financial result.

When withdrawing securities (payment of income in kind), the payment amount is determined as the sum of actually incurred and documented expenses for the purchase of securities transferred to the client.

When funds are paid (securities withdrawn) more than once during the tax period, the tax amount is calculated on an accrual basis, offsetting the previously paid tax amounts (clause 12 of article 226.1 of the RF Tax Code).

The amount of tax is withheld from the withdrawn funds if the amount of the balance of funds on the client's brokerage account after the withdrawal is not sufficient for the withholding calculated in connection with the withdrawal of the tax. If the amount of the balance of funds in the client's brokerage account is sufficient to withhold tax, the tax amount is withheld from the funds in the client's brokerage account.

Example 1.

Conclusion 1

The amount of personal income tax (NB) and the amount of withdrawal are compared1: 130< 5000, следовательно применяется метод B, НДФЛ будет удержан в сумме 130 руб. Клиент получит на свой текущий счет 5 000 руб.

Conclusion 2

	*Amount (RUB)*
The tax base
	5000 × 13% = 650
Personal income tax withheld upon withdrawal 1
Personal income tax withholding	650–130=520
Account amount
Withdrawal amount 2
	5000 × 13% = 650
*Personal income tax withholding upon withdrawal 2*	*520*

The amount of personal income tax to be withheld and the amount of withdrawal is compared2: 520< 5000, следовательно, применяется метод B, НДФЛ будет удержан в сумме 520 руб. Клиент получит на свой текущий счет 5 000 руб.

Example 2.

The amount of personal income tax and the amount of withdrawal are compared: 130> 100, therefore, method B is applied, personal income tax will be withheld in the amount of 13 rubles. The client will receive 100 rubles to his current account.

Example 3.

The amount of personal income tax and the withdrawal amount are compared: 650< 1000, следовательно, применяется метод B, НДФЛ будет удержан в сумме 650 руб. Так как остаток на счете клиента не позволяет удержать налог из свободного остатка денежных средств, Клиент получит на свой текущий счет только 350 руб.

At the end of the tax period, the client's tax base will be recalculated taking into account the balancing of losses in accordance with clause 15 of article 214.1 of the Tax Code of the Russian Federation. In this case, the amount of tax will be recalculated based on the results of the tax period, the amount of tax paid at the interim payment will be credited with withholding tax based on the results of the tax period (calendar year), the amount of overpaid tax will be returned to the brokerage account.

The procedure for calculating the tax base based on the results of the tax period.

At the end of the tax period, tax calculations are made in the first half of January (until 15.01), withholding the calculated amounts of tax - in the second half of January (until 01.02 - clause 9 of article 226.1). The tax base at the end of the tax period is determined in the following order, taking into account the balancing of losses at the end of the year (hereinafter referred to as the Procedure):

a) The financial result is determined for each operation and for each set of operations specified in clauses 1-6 of this order as of the date of the end of the tax period;

b) A negative financial result reduces the financial result for the totality of the corresponding transactions;

c) The financial result of operations related to a short position is taken into account when determining the tax base for operations with securities circulating on an organized market and for operations with securities that are not traded on an organized market and for operations with securities;

d) The amount of negative financial result obtained from transactions with securities traded on an organized market reduces the financial result from transactions with securities that are not traded on an organized market, which at the time of their acquisition were related to securities traded on an organized market;

e) Loss on repo transactions reduces income on transactions with securities traded on the organized securities market, as well as with securities not traded on the organized securities market, in a proportion calculated as the ratio of the value of securities that are the object of repo transactions, traded on the organized securities market, and the value of securities that are the object of REPO transactions, not traded on the organized securities market, in the total value of securities that are the object of REPO transactions;

f) the amount of loss on operations with securities circulating on the organized securities market, performed during the tax period, reduces the tax base for operations with derivatives contracts circulating on the organized market, the underlying assets of which are securities, stock indices or other derivatives, the basic whose assets are securities or stock indices;

h) the amount of loss on operations with derivatives traded on the organized market, the underlying asset of which is securities, stock indices or other derivatives, performed in the tax period, after reducing the aggregate tax base for operations with any derivatives (including the underlying assets of which are goods or information), circulating on the organized market, reduces the tax base for operations with securities circulating on the organized securities market;

i) the amount of loss on operations with derivatives traded on the organized market, the underlying asset of which is not securities or stock indices, performed in the tax period, reduces the tax base for operations with derivatives traded on the organized market;

j) the amount of loss on operations with securities or derivatives that are not traded on the organized securities market does not reduce the tax base for operations with securities and derivatives traded on the organized securities market, and vice versa;

k) the amount of loss on operations with securities that are not traded on the organized securities market does not reduce the tax base for operations with derivatives that are not traded on the organized securities market, and vice versa.

If at the end of the reporting period at the time of tax payment there is not enough ruble funds on the client's brokerage account, the tax will not be withheld. In this case, in the certificate of income of an individual for the past tax period, the calculated amount of tax will be indicated as the amount of tax not withheld by the tax agent. This tax amount is independently paid by the client to the budget through the tax authorities, at the place of residence of the client. If the client's tax arrears arises during the tax period, the tax will be withheld when the required amount of ruble funds appears on the brokerage account.

Example 4.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
REPO

therefore, NB ORSB = (-1000) + (-1000) = (-2000) (item c) of the Order);

2. Loss on REPO is reduced by NB ORSB, NB ORSB = (-1000) + (-2000) = (-3000) (item e) of the Order);

3. The loss on the organized securities market reduces NB PFI1CB =2000+(-3000)=-1000 (item e. Order)

Example 5.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
REPO

1. The financial result of the KP is recorded in the NB ORSB,

therefore, NB ORSB = (-1000) + (+3000) = (+2000) (point c) of the Order);

2. Loss on REPO is reduced by NB ORSW, NB ORSB = (+2000) + (-1000) = (+1000) (item e) of the Order);

3. Loss of PFI1SB reduces NB ORSB = (+1000) + (-1000) = 0 (point of order)

Result after balancing

Example 6.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
REPO

Settlement is applied in the same order as above:

1. Loss of PFI1CB reduces NB ORSB = (+100) + (-30) = 70 (point of order)

Result after balancing

Example 7.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
PFI1nTSB
REPO

The balancing is applied in the order above:

1. Decrease in the aggregate base for derivatives = (-30) + (+20) = (-10), after a decrease in PFI1CB = (-10), PFI1nCB = 0

2. Loss of PFI1CB reduces NB ORSB = (+100) + (-10) = 90 (point of order)

Result after balancing

Example 8.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
PFI1nTSB
REPO

The balancing is applied in the order above:

loss from operations with derivatives traded on the organized market, the underlying asset of which is not securities or stock indices, does not reduce the tax base for operations with securities traded on the organized securities market, and vice versa.

Result after balancing

Example 9.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
PFI1nTSB
REPO

The balancing is applied in the order above:

1. Decrease in the aggregate base for derivatives = (+30) + (-40) = (-10), after a decrease in PFI1CB = 0, PFI1nCB = (-10);

2. Loss of PFI1nSB does not reduce NB ORSB.

Result after balancing

Example 10.

*Types of income*	*+ Income / - Loss*
ORSB
PFI1CB
PFI1nTSB
REPO

The balancing is applied in the order above:

1. The loss of the organized securities market reduces PFI1CB = (-100) + (+15) = (-85), after the decrease in the organized securities market = (-75) = 0, PFI1nSB = 0 (item e. Of the Order);

2. The loss of the Organizational Securities Market does not reduce the PFI1nSB.

Result after balancing

The amount of the loss may be carried over to the next tax period (see section “ ».)

The negative financial result obtained in the tax period for certain transactions with securities traded on the organized securities market reduces the overall positive financial result on transactions with securities traded on the organized market, obtained in the same tax period, taking into account the maximum fluctuation limit market price of securities.

The market price of a security circulating on the organized securities market is:

a) the weighted average price of such a security, calculated by the Russian organizer of trading on the securities market (stock exchange) on the date of the transaction - for securities admitted to trading by such organizer of trading on the securities market, on the stock exchange; In the absence of information on the weighted average price of a security from the organizers of trading on the securities market (stock exchange) as of the date of the transaction, the market price is the weighted average price prevailing on the date of the next trading held prior to the day of the transaction, if trading in these securities was conducted although would be once in the last three months.

b) the closing price for a security calculated by a foreign stock exchange for transactions completed within one trading day through such an exchange - for securities admitted to trading on a foreign stock exchange.

The limiting border of fluctuations in the market price of securities circulating on the organized securities market is determined in the following order:

1. upward - from the market price of a security to the maximum price of a transaction with a security made at the auctions of this trade organizer on the securities market, including a stock exchange, or a foreign stock exchange;

2. downward - from the market price of a security to the minimum price of a transaction with a security made at the auctions of this trade organizer on the securities market, including a stock exchange, or a foreign stock exchange.

Example 10.

The client has received a positive financial result from operations with securities circulating on the organized market since the beginning of the calendar year in the amount of 1,000 rubles. At the same time, before the end of the tax period, he made an over-the-counter transaction to sell 10 shares of Sberbank at a price of 50 rubles per share, previously purchased on the stock exchange at 100 rubles, which corresponded to the market price level on the date of the transaction for the purchase of securities. On the day of the conclusion of the over-the-counter sale transaction, the market price of Sberbank shares was 92 rubles per share, and the minimum transaction price recorded on the exchange was 87 rubles per share. The actual loss from the sale of Sberbank shares amounted to RUB 500. Despite the fact that, in the general case, the negative financial result obtained in the tax period for certain transactions with securities traded on the organized securities market reduces the overall positive financial result on transactions with securities traded on the organized securities market, obtained in the same the tax period, when calculating the tax base in the above example, the principle of the maximum limit of fluctuations in the market price of securities will be used. Guided by this principle, the negative financial result from the sale of Sberbank shares will be calculated based on the larger of two prices: the sale price of the shares and the minimum transaction price on the stock exchange. In the above example, the higher value will be the minimum transaction price - 87 rubles. Thus, the positive financial result from operations with securities circulating on the organized market in the amount of 1,000 rubles will be reduced not by 500 rubles, but by 130 rubles. The tax base will be 870 rubles, the tax - 113 rubles.

Example 11.

The client made an over-the-counter transaction to purchase 10 shares of Sberbank at a price of 100 rubles per share. On the day of the conclusion of the over-the-counter transaction for the purchase, the market price of Sberbank shares on the stock exchange was 87 rubles per share, and the maximum transaction price was 92 rubles. If in the future the client wants to sell these shares of Sberbank, then the price of their acquisition when calculating the taxable base will be the price of 92 rubles per share, since in this example the principle of the maximum fluctuation limit of the market price of securities will be used. If the client sells these shares at RUB 100 per share, then taxable income will be RUB 8 per share or RUB 80 per block of shares, and the withholding tax will be RUB 10.

The procedure for accounting for expenses on securities when determining the tax base, if they are acquired by the client not through VTB Bank (PJSC), including if the client receives them by way of donation (inheritance).

When a client credits securities to a depo account in the bank's depository (in case of joining the “Regulations for the provision of services in financial markets” (hereinafter - the Regulations), these securities are accounted for as purchased at zero price, if the bank does not have documents confirming the price of their purchase. This provision does not apply to cases when the bank purchases securities, acting on behalf of the client within the framework of the Regulations.

In accordance with clause 4 of article 226.1. Of the Tax Code of the Russian Federation, when determining the tax base for operations with securities, the Bank, on the basis of the client's application, may take into account the actually incurred and documented expenses that are associated with the acquisition and storage of the relevant securities and that the client made without the participation of the Bank, including before the conclusion of an agreement with the Bank , in the presence of which the Bank determines the tax base of the taxpayer.

Documents confirming expenses for the purchase of securities:

If securities were purchased under an agreement for brokerage services (trust management) with a professional participant in the securities market, you must submit to the bank:

* In cases where the reports of the broker (trustee) do not allow the Bank to reliably establish the costs incurred by the client for the purchase of securities transferred by him to the Bank's depository, the Bank may request from the client a certificate of the tax agent from whom the client transferred the securities to the Bank's depository, which indicates the costs of acquiring the transferred securities.

In other cases, it is required to submit:

purchase and sale agreement confirming the purchase of the said securities;
a payment document confirming payment for the specified securities (a receipt issued by the seller on receipt of money from the buyer);
documents confirming the transfer of ownership of the specified securities to the client (if securities are transferred from the client's own custody / personal account opened in another depository / register). As documents confirming the transfer of ownership of securities to the Client, an extract from the custody account (personal account in the register) of the Client with the given basis for the movement of securities for the period from the date of purchase to the date of transfer of securities to the Depository of VTB Bank (PJSC) is accepted

If the client acquired the ownership of securities as a gift or inheritance, when taxing income from the sale (redemption) of securities, the amounts from which the tax was calculated and paid upon acquisition are taken into account as documented expenses for the acquisition (receipt) of these securities (receiving) these securities. When the client receives securities as a gift from close relatives (spouses, parents and children, including adoptive parents and adopted children, grandfathers, grandmothers and grandchildren, full and half brothers and sisters (having a common father or mother) brothers and sisters), as well as in the order inheritance, the client's expenses include the documented expenses of the donor (testator) for the purchase of these securities.

When the client receives securities by way of donation from other persons (not named in the previous paragraph), the amounts from which the tax was calculated and paid when purchasing (receiving) these securities are taken into account as documented expenses for the acquisition (receipt) of these securities.

Documents confirming expenses for the purchase of securities received by the client by way of donation (inheritance):

1.in case of receipt of securities by way of donation (not from close relatives):

1.1. documents confirming the receipt of securities by way of donation - a donation agreement;

1.2. documents confirming the transfer of ownership of the specified securities to the client (if securities are transferred from the client's own depo account opened with another broker / depository). As documents confirming the transfer of ownership of securities to the Client, an extract from the custody account (personal account in the register) of the Client with the given basis for the movement of securities for the period from the date of purchase to the date of transfer of securities to the Depository of VTB Bank (PJSC) is accepted.

1.3. documents confirming the fact of payment of personal income tax (if any).

2. in case of receipt of securities by way of donation from close relatives, as well as by way of inheritance:

2.1. documents confirming the receipt of securities by inheritance / donation (certificate of the right to inheritance / donation agreement);

2.2. documents confirming relationship (marriage certificate, birth certificate, etc.) - are provided only for donation cases;

2.3. documents confirming the costs incurred for the purchase of securities by the donor / testator (see paragraph "");

2.4. documents confirming the transfer of ownership of the specified securities to the client (if securities are transferred from the client's own depo account opened with another broker / depository). As documents confirming the transfer of ownership of securities to the Client, an extract from the custody account (personal account in the register) of the Client with the given basis for the movement of securities for the period from the date of purchase to the date of transfer of securities to the Depository of VTB Bank (PJSC) is accepted.

In addition, together with the above documents, the client is obliged to submit to the Bank statement with a request to take into account these expenses in the following form:

These documents must be submitted to the Bank by December 31 of the year during which the said securities were sold (if by the end of the year the client has not withdrawn the funds received as a result of the sale of securities). Otherwise, the documents must be submitted no later than the date of submission of the order for the withdrawal of funds from the sale of securities.

In case of failure to provide documents confirming expenses for the purchase of securities, the Bank relinquishes responsibility for withholding excessively accrued tax. Further settlement of the amount of tax liabilities is carried out by the client independently by contacting the tax authority at the place of residence.

Receipt of material benefits by the client.

If a client purchases securities traded on a stock exchange or futures contracts traded on a stock exchange at a price (including acquisition costs) lower than the market price of the said securities or futures contracts, taking into account the maximum fluctuation limit of this price, from the client a material benefit is formed in the amount of the excess of the market price, taking into account the maximum fluctuation limit of this price over the purchase price, which is taxed in accordance with the procedure provided for taxation of income from the sale of securities or fixed-term contracts. If in the future the client sells securities or fixed-term contracts, the costs of purchasing these financial instruments for calculating the taxable base will be the sum of their actual acquisition, the amount of material benefit. (paragraph 8 of clause 13 of article 214.1 of the Tax Code of the Russian Federation).

Example 12.

The client made an OTC transaction to purchase 10 shares of Sberbank at a price of 50 rubles per share. On the day of the conclusion of the transaction for the sale, the market price of Sberbank shares was 90 rubles per share, and the minimum transaction price recorded on the stock exchange was 82 rubles. As a result of this transaction, the client received a material benefit in the amount of the excess of the minimum price of the shares (the limit of price fluctuations) over the price of their purchase, i.e. 82 rubles, minus 50 rubles, multiplied by the number of shares - 320 rubles. The material benefit was 320 rubles; tax withheld from material benefits (13%) - 42 rubles. In the future, if the client sells the specified 10 shares of Sberbank, the costs of their acquisition will consist of the purchase price of 50 rubles, the amount of material benefit 320 rubles, i.e. 500 + 320 = 820 rubles or 82 rubles per share.

Provision of tax deductions (transfer of losses from operations with securities of previous years to the current tax period).

Since January 1, 2010, important changes have been made to the Tax Code of the Russian Federation, according to which losses of previous years will reduce the tax base when calculating the tax. In this case, the loss received in the previous tax period can be carried forward in full or in part to future periods within 10 years. Until that moment, the transfer of losses to the next period was impossible. This new norm applies to losses incurred by a taxpayer since 2010. A decrease in income received in previous tax periods (calendar year) by the amount of losses in the current and subsequent reporting periods is not allowed.

To receive the specified tax deduction, the client must independently apply to the tax authorities at the place of residence at the end of the tax period with a written statement and tax return. In this case, the Bank does not reduce the amount of tax withheld and payable to the budget at the end of the tax period and does not take into account the losses incurred by the client in previous tax periods.

Losses will be accounted for in the following order:

Loss amounts received from transactions with securities circulating on the organized securities market, deferred, reduce the tax base of the respective tax periods for such transactions. That is, losses incurred by a client from transactions with securities circulating on an organized securities market can reduce the tax base, calculated only on transactions with securities circulating on the organized securities market. Losses received from operations with securities circulating on the organized securities market cannot reduce the positive financial result obtained from operations with forward contracts. Loss amounts carried forward on transactions with derivatives contracts, which are traded in the organized market, are deducted from the tax base of the respective tax periods for transactions with futures contracts traded in the organized market.

It is not allowed to carry forward to future periods losses received on operations with securities that are not traded on the organized securities market, and on operations with derivatives that are not traded on the organized market.

The amount of loss on REPO transactions and transactions related to the opening (closing) of short positions is not carried forward to future periods.

The client has the right to carry forward the loss to future periods within 10 years following the tax period in which this loss was received. If a taxpayer has suffered losses in more than one tax period, the transfer of such losses to future periods is made in the order in which they are incurred.

To confirm the right to tax deductions when carrying forward losses from operations with securities and operations with financial instruments of forward transactions, the client submits documents to the tax authorities confirming the amount of the loss incurred throughout the period when he reduces the tax base of the current tax period by amounts previously received losses. The client is obliged to keep documents confirming the amount of the incurred loss for the entire period when he reduces the tax base of the current tax period by the amount of previously incurred losses.

The procedure for taxation of income received by individuals-residents of the Russian Federation from operations with securities of Russian and foreign issuers.

1. For operations related to the purchase and sale (redemption) of securities through the Bank on the organized securities market (on exchange trading):

The income received from such transactions (income from the sale / redemption of securities) is subject to taxation in accordance with article 214.1 of the Tax Code of the Russian Federation.

Clause 12 of Article 214.1 of the Tax Code of the Russian Federation establishes that the financial result of operations with securities and operations with derivatives is defined as income from operations minus the corresponding expenses specified in clause 10 of Article 214.1 of the Tax Code of the Russian Federation.

Such expenses in accordance with subparagraph 1 of paragraph 10 of Article 214.1 of the Tax Code of the Russian Federation include, in particular, the amounts paid to the issuer of securities (the management company of the mutual investment fund) in payment for the placed (issued) securities, as well as the amounts paid in accordance with the agreement purchase and sale of securities, including the coupon amount.

Thus, when calculating the tax base on income from the sale of bonds, the amount of accumulated but not paid coupon income included in the cost of bonds upon their purchase, taken into account tax agent as part of expenses for the acquisition of these bonds regardless of whether they were sold before or after the coupon was paid.

For example The Bank, as part of the brokerage agreement, on behalf of the client, purchased bonds, the purchase price of which includes a part of the accumulated but unpaid coupon yield (CI). In this case, the Bank is the nominal holder of the said bonds. Subsequently, these bonds were sold by the client. The taxable base for these transactions will be calculated based on the total amount received from the sale of bonds (including ACI), minus the entire amount of expenses for the purchase of bonds (including ACI). If, during the period of the client's possession of the bonds, coupon payments were made to personal accounts (306), then the indicated income (excluding income in the form of interest (coupon, discount) received on circulating bonds of Russian organizations, denominated in rubles and issued after January 1, 2017), are included in income from operations with securities and are taken into account by the Bank when calculating tax on income from the sale of securities.

In the case of payment of coupon income to bank accounts / cards, the calculation and withholding of tax from the coupon income is carried out in accordance with paragraph 2 of this section. In accordance with paragraph 7 of Article 226.1 of the Tax Code of the Russian Federation, the calculation, withholding and payment of the amount of tax on income from the sale of securities are carried out by the tax agent at the end of the tax period, as well as before the expiration of the tax period or until the expiration of the contract in the manner prescribed by Chapter 23 of the Tax Code of the Russian Federation ...

Exception: in accordance with paragraph 13 of Article 214.1 when determining the financial result of operations with securities income from purchase and sale (redemption) government treasury bonds, bonds and other government securities of the former USSR, member states of the Union State and constituent entities of the Russian Federation, as well as bonds and securities issued by decision of representative bodies of local government, accounted for without interest (coupon) income payable to a taxpayer, which is taxed at a rate different from that provided for in paragraph 1 of Article 224 of the Tax Code of the Russian Federation, and the payment of which is provided for by the terms of the issue of such a security. For purchase and sale transactions for the specified categories of securities, the amount of accumulated but unpaid coupon income (ACI) when calculating the client's taxable base is not included by the Bank in income (expenses).

When making payments to taxpayers of income from the redemption of securities to personal accounts (306), the Bank (Broker) is a tax agent. The amount of income from the redemption of the par value of the bond will be included in the calculation of the taxable base for operations with securities in accordance with Articles 214.1, 226.1 of the Tax Code of the Russian Federation.

When making payments to taxpayers of income from the redemption of securities to bank accounts / cards, the Bank is not a tax agent and does not determine the tax base for such transactions. In this case, the client is obliged to independently calculate and pay the amount of tax to the budget, as well as submit an appropriate tax declaration to the tax authority at the place of his registration.

2. Taxation of coupon income on bonds

2.1. Coupon income on bonds of issuers - non-residents of the Russian Federation.

In accordance with subparagraph 1 of paragraph 3 of Article 208 of the Tax Code of the Russian Federation, dividends and interest received by a non-resident taxpayer from a foreign organization are income received from a source outside the Russian Federation.

The obligation to calculate and pay personal income tax on income received by individuals - tax non-residents of the Russian Federation from sources located outside the Russian Federation, is imposed on the individuals themselves (Article 228 of the Tax Code of the Russian Federation).

In these cases, non-resident individuals of the Russian Federation, in accordance with subparagraph 1 of paragraph 1 and paragraphs 2, 3 of Article 228 of the Tax Code of the Russian Federation, Article 229 of the Tax Code of the Russian Federation, upon receipt of interest income on bonds, must independently calculate and pay the amount of tax to the budget, as well as submit to the tax the authority at the place of its registration, the corresponding tax return. As a document confirming the receipt of these payments to the current account with the Bank (if the client specifies an account with the Bank as the bank account details in the depositor's questionnaire), the client can request a statement of his current account with the Bank for the required period.

In case of payment of coupon yield on bonds of non-resident issuers to a client-resident of the Russian Federation to personal accounts (306), the Bank (Broker) is a tax agent and calculates, withholds and transfers to the budget of the Russian Federation tax on the specified income, and also provides information on the specified income and the amounts of taxes paid to the tax authorities.

In case of payment of coupon yield on bonds of non-resident issuers to a client-resident of the Russian Federation to bank accounts / cards, the client is obliged to independently calculate and pay the tax amount to the budget, as well as submit the corresponding tax declaration to the tax authority at the place of registration.

2.2. Coupon income and income from redemption of bonds of issuers - residents of the Russian Federation.

1) In case of receiving income to personal accounts (306):

According to paragraphs. 1 p. 2 art. 226.1 of the Tax Code of the Russian Federation, the Bank (Broker) is a tax agent for the payment of coupon income in cash on securities, calculates, withholds and transfers to the budget of the Russian Federation tax on these incomes, and also provides information on these incomes and amounts of taxes paid to the tax authorities.

2) In case of transferring income to bank accounts / cards:

According to Art. 226.1 of the Tax Code of the Russian Federation Bank (Depository) is a tax agent for payment of coupon income in cash on securities,

which are accounted for on a depo account opened for individuals-residents and non-residents of the Russian Federation (the taxation procedure is carried out in accordance with Articles 214.1, 226.1 of the Tax Code of the Russian Federation);
which are accounted for on the custody account of a foreign nominee holder, the custody account of a foreign authorized holder and (or) the custody account of depository programs (the taxation procedure is carried out in accordance with Articles 214.6, 226.1 of the Tax Code of the Russian Federation): - for government securities of the Russian Federation with mandatory custody;
for government securities of the constituent entities of the Russian Federation with obligatory centralized storage;
for municipal securities with obligatory centralized storage, regardless of the date of registration of their issue,
for equity securities with obligatory centralized storage - in relation to issues, the state registration of which or the assignment of an identification number to which was carried out after January 1, 2012;
- for other equity securities, with the exception of equity securities with mandatory centralized storage, the state registration of which or the assignment of an identification number to which was carried out before January 1, 2012,

and carries out the calculation, withholding and transfer to the budget of the Russian Federation of tax from the specified income, and also provides information on the specified income and the amount of taxes paid to the tax authorities.

The tax rate for the payment of coupon income in accordance with Article 224 of the Tax Code of the Russian Federation is set:

For tax residents - 13%
For individuals who are not tax residents - 30%
The tax rate is set at 35% in respect of interest (coupon) income on outstanding bonds of Russian organizations denominated in rubles and issued after January 1, 2017. The tax base is defined as the excess of the amount of interest (coupon) payment over the amount of interest calculated based on the par value of bonds and the refinancing rate of the Central Bank of the Russian Federation, increased by five percentage points, in effect during the period for which the coupon was paid

For bonds of issuers - residents of the Russian Federation with mandatory centralized storage, registered before 01.01.2012, upon payment of coupon income, the issuer fulfills the duties of a tax agent in the manner prescribed by Article 226 of the Tax Code of the Russian Federation, and provides information on the income of individuals and the amounts of accrued and withheld tax to tax organs. If the issuer has not fully withheld taxes, the Bank in accordance with paragraph 5 of Art. 226.1 of the Tax Code of the Russian Federation carries out additional withholding of tax amounts not fully withheld by the issuer of securities, including in the case of transactions in favor of the taxpayer, the tax base for which is determined in accordance with Articles 214.1, 214.3 and 214.4 of the Tax Code of the Russian Federation.

Exception: exempt from taxation (paragraph 25 of Article 217 of the Tax Code of the Russian Federation) the amount of interest on state treasury obligations, bonds and other government securities of the former USSR, member states of the Union State and constituent entities of the Russian Federation, as well as on bonds and securities issued by decision of representative local government bodies.

Taxation of dividends

The calculation of the amount and payment of tax in respect of income received in the form of dividends on shares of Russian organizations is carried out by the Bank (Depository) in accordance with Art. 214 of the Tax Code of the Russian Federation and taking into account Art. 226.1 of the Tax Code of the Russian Federation.

HThe tax rate for the payment of dividends in accordance with Article 224 of the Tax Code of the Russian Federation is set:

For tax residents - in the amount of 13%, taking into account the specifics established by article 275 of the Tax Code of the Russian Federation;
For individuals who are not tax residents - 15%

Income in the form of dividends on securities of foreign issuers received by individuals who are non-residents of the Russian Federation are not subject to personal income tax in the Russian Federation, respectively, the Bank is not a tax agent for these incomes.

On income in the form of dividends on securities of foreign issuers received by individuals-residents of the Russian Federation on personal accounts (306), the Bank is a tax agent and calculates and withholds tax at a rate of 13%.

Receiving an investment tax deduction from the sale of securities traded on the organized securities market and owned by the client for more than three years

From 01.01.2017, upon application for an investment tax deduction (brokerage services), customers can use the right to receive an investment tax deduction in accordance with clause 1 of clause 1 of Article 219.1 of the Tax Code of the Russian Federation “in the amount of a positive financial result received by the taxpayer in the tax period from the sale (redemption) of securities circulating on the organized securities market and owned for more than three years. "

Clients submit an application for an investment tax deduction to the Bank once during the tax period, the application is valid for the entire tax period in which it is submitted.

In case of submission during the tax period of an application from the taxpayer to provide him with an investment tax deduction, the calculation of the amount of personal income tax when withdrawing funds is made by the Bank, taking into account the specified tax deduction.

Reporting with the calculation of the taxable base based on the results of the tax period, provided to the client on a voluntary basis by VTB Bank (PJSC).

Based on the results of the tax period (as well as when withdrawing funds / securities from the brokerage account), clients receive the following reports from the Bank to the e-mail address specified in the client's questionnaire:

Please note that if the client does not receive these reports due to the lack of the client's e-mail address in the Bank or if it is out of date, he must contact the Bank and make changes to the client's questionnaire, indicating the current e-mail address. Otherwise, the client needs to check the settings of the mail system he is using.

1. Calculation of personal income tax on transactions with securities and derivatives for the period.

An example of a report with the calculation of the taxable base tax_count.doc (49 Kb).

The calculation contains the following information:

« TOTAL FOR SECURITIES circulating on the ORS»- financial result of transactions of purchase and sale of securities circulating on the organized securities market, including securities denominated in foreign currency. For more details, this calculation is presented in the Calculation of the Financial Result (FIFO) for the sale of securities. "
“TOTAL FOR PFIs traded on ORs, the underlying assets of which are Central Banks and Indices (broken down by underlying assets)” - the financial result for PFIs (futures and options), the underlying assets of which are securities and stock indices ”.
“TOTAL FOR PFIs traded on ORs, the underlying asset for which are not the Central Bank and Indices (broken down by underlying assets)” - the financial result for PFIs (futures and options), the underlying assets of which are commodities, currency, interest rates, etc. d ....
« TOTAL REPO OPERATIONS»- financial result of REPO transactions. For more details, this calculation can be found in the report "Calculation of the financial result of REPO transactions"
« Reverse REPO (B / S)»- financial result of REPO transactions (purchase of securities for the first part of the Special REPO, sale for the second part of the Special REPO), concluded when the client's short margin positions are transferred.
« Direct REPO (S / B)»- financial result on REPO transactions (sale of securities under the first part of the Special REPO, purchase under the second part of the Special REPO), concluded when the client's long marginal positions are transferred.
« TOTAL BY SHORT POSITIONS"- the financial result of operations related to the opening / closing of short positions that are objects of REPO transactions. For more details, this calculation is presented in the report" Calculation of financial results for short positions ".
"Transaction costs»- commission of the Bank, as well as commissions of trading systems and trade organizers, directly related to the conclusion of transactions
« Non-transactional costs»- Depository commission of the Bank, as well as other commissions of the Bank not directly related to the conclusion of transactions.
« Loss balancing"- Netting of losses on transactions included in different taxable bases subject to netting in accordance with the Tax Code of the Russian Federation, with income from the line“ Result from operations with securities».
« Result taking into account balancing"=" Result from transactions with securities "-" Loss balancing ".

2. Calculation of the financial result (FIFO) for transactions in the sale of securities. The calculation includes transactions of purchase and sale of securities circulating on the organized securities market. The calculation does not include derivatives transactions, REPO transactions and transactions related to the opening of short positions that are objects of REPO transactions;

3. Calculation of the financial result for REPO transactions;

4. Calculation of the financial result for short positions.

Income from securities (dividends, interest) is credited to the bank account or the Client's personal account specified in the Information on bank details, while the Bank, as a tax agent, calculates, withholds and transfers to the budget the personal income tax in accordance with the procedure established by the Tax the Code of the Russian Federation.

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VTB Bank (PJSC) (VTB Bank). General license of the Bank of Russia No. 1000. License of a professional participant in the securities market for brokerage activities No. 040-06492-100000, issued on March 25, 2003. Information about VTB Bank was included in the unified register of investment advisors by the decision of the Bank of Russia dated December 24, 2018.
Further

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In this article, we look at the options and ways that you can use to reduce the amount of income you pay, thereby increasing the overall financial result of your investment. And there are not so few of them!

1) IIS

To make investments in the stock market more attractive, the state decided to introduce tax breaks for market participants. From January 1, 2015, investors can open so-called individual investment accounts (IIA), which are subject to tax incentives. IIS is opened with a broker, the minimum "validity period" is 3 years, and the maximum amount of the contribution is 400 thousand rubles per year.

The investor can choose from two types of such accounts. Their main difference lies in the type of taxation.

A. Annual 13% contribution relief... You open an IIS and deposit up to 400,000 rubles on it. This contribution reduces the taxable base: the investor can count on a return of personal income tax from the budget in the amount of up to 13% of the amount deposited on the IIA. That is, by opening an account for a maximum of 400,000 rubles, you can count on a personal income tax refund of up to 52,000 rubles. To do this, you need to contact the tax service with a certificate from a broker, which indicates the amount of funds deposited on the IIS. At the end of the tax period, the refund will be credited to your bank account. If the investor adds funds every year, then the operation can be repeated annually - to deposit funds to the IIA and reduce the taxable base by 13%. An important point: such a tax refund can only be received by the investor who has already paid personal income tax (for example, from salary) during the year when the contribution was made. Therefore, the investor can count on a refund of no more than the amount of tax already paid to the treasury. When closing an investment account, you will have to pay 13% tax on income received from transactions on the account (not for all instruments).

Detailed instructions for obtaining a type A tax deduction can be found in special material >> .

B. Income without tax. This option assumes that the investor does not receive a contribution discount, but all income received from transactions on the IIA is exempted from paying personal income tax after three years when the IIA is closed. This option may be of interest to active traders who are willing to accept higher risks in the hope of potentially higher returns.

If you can have as many brokerage accounts as you like, then there can be only one IIS. At the same time, it is impossible to "turn" your brokerage account into an individual investment account - you need to open a new one. The minimum validity period for such an account is 3 years. Of course, an investor can withdraw his money from the account earlier, but this will deprive him of all tax benefits. In addition, if during these 3 years the investor wants to withdraw money or securities from the account, then it will have to be completely closed, and all tax deductions received earlier must be returned.

An individual investment account has become very popular among investors with small amounts of money. As of the end of September 2016, the Moscow Exchange registered more than 150 thousand individual investment accounts opened by individuals with brokerage and management companies. BCS has already opened more than 22 thousand such accounts.

2) Holding shares for 3 years (Article 219.1 of the Tax Code of the Russian Federation)

At the end of 2013, a law was passed stating that the right to grant investment tax deductions applies to income received from the redemption of securities purchased after January 1, 2014 (in practice, no one has yet checked it, since 3 years have not passed).

When determining the taxable base, the taxpayer has the right to receive an investment tax deduction in the amount of a positive financial result obtained in the tax period from the redemption of securities in circulation. organized securities market and owned by the taxpayer more than three years.

It is important to pay attention to the fact that the investment tax deduction is provided taking into account the following features:

1. The sum of the positive financial result, in the amount of which the tax deduction is granted, is defined as income from transactions minus the corresponding expenses on transactions with securities. The costs can be as follows:

Amounts paid to the issuer in payment for the issued securities;
- Amounts paid in accordance with the securities purchase and sale agreement, including the amount of the coupon;
- Payment for the services of professional participants in the securities market, as well as exchange intermediaries and clearing centers;
- Exchange fee (commission);
- Payment for the services of persons maintaining the register;
- Tax paid by the taxpayer when he inherited securities;
- Amounts of interest paid by the taxpayer on loans and borrowings received to carry out transactions with securities (including margin transactions), within the amounts calculated based on the refinancing rate of the Central Bank in force on the payment date, increased by 1.1 times, - for loans and loans denominated in rubles and based on 9% - for loans and borrowings denominated in foreign currency;
- Other expenses directly related to operations with securities.

2. The maximum amount of the tax deduction in the tax period is determined as the product and the amount equal to 3,000,000 rubles.

BCS Express

The Federal Law of the Russian Federation "On Tax on Transactions with Securities" has a rather narrow spectrum of action and is aimed at regulating relations between issuers of securities and the state. It belongs to those few laws that have not undergone changes and additions for quite a long time, and its norms are simple and effective.

Since February 8, 1991, the general rules of taxation for transactions with securities when concluding transactions of any nature have been determined by the resolution of the Council of Ministers of the RSFSR "On the rates of stamp duty on transactions with securities." On January 1, 1992, the Law of the RSFSR "On Tax on Transactions with Securities" entered into force, which replaced the said decree and, with minor amendments and additions, is still in effect.

The RSFSR Law "On Tax on Securities Transactions" determined tax payers, objects of taxation, tax rates and benefits, established the procedure for calculating the amount of tax and the timing of its payment, responsibility for tax payment. The Law defined the concept of “transactions with securities”. Thus, the Law establishes that a transaction with securities is recognized as the actions or intentions of the taxpayer aimed at the emergence of property rights in relation to shares, savings certificates and bonds, bills of exchange through the conclusion of an agreement and registration of a prospectus for the issue of securities. Similar requirements apply to bills of exchange in terms of concluding a contract. Thus, many securities, which were issued, for example, by banks and enterprises, remained in the zone of inaccessibility of the force of this Law. These include certificates of deposit, promissory notes, treasury bonds. The exception to the rule was operations with shares of the labor collective, bonds of the USSR State Internal Loan of 1982, State Treasury obligations of the former USSR and certificates of the former Savings Bank of the USSR.

The law established two objects of taxation: the price of the contract and the registration of the prospectus for the issue of securities. From the point of view of the fundamentals of the organization of the tax system, it was not clearly defined what is subject to taxation: the very fact of registration of the prospectus for the issue of securities or the nominal amount of the issue; in addition, when some securities were issued, the prospectus was not registered and tax was not paid. Such securities include operations with savings and deposit certificates, promissory notes and bills of exchange. At that time, by law, the issue prospectus was provided only for the issue of shares and bonds, if the issue was carried out in the form of an open (public) placement.

Tax rates. The tax rate was 0.5% of the nominal amount of the issue, and the issuer carrying out the initial issue of securities paid tax in the form of a fee for registration of the prospectus. Transactions involving the purchase of government securities were subject to taxation, and upon the conclusion of a contract for the purchase and sale of securities (for example, shares, bonds), a tax of 3 rubles was levied from each participant in the transaction. from every 1000 rubles. the amount of the contract.

Tax incentives. In accordance with the Law, the following were exempted from tax on transactions with securities:

- legal entities and individuals who acquired shares first issued by a joint-stock company since the moment of its state registration;
- the issuer who carried out the primary issue of securities;
- legal entities that carried out intermediary operations with securities in accordance with the established procedure at the expense and on behalf of the client.

Procedure and terms of tax payment.

The procedure and terms for payment of tax on transactions with securities assumed strict compliance with the requirements of the law, since in case of refusal to register the issue, the tax was not refunded, and upon re-submission of documents, payment was made again.

When concluding a contract for the sale of securities, tax was paid by each of the parties when concluding a transaction in the secondary market with corporate securities, and when buying government securities - only the buyer. In this case, stock exchanges are obliged to transfer the amount of tax to the budget - for transactions that were made with their help, and registrars of over-the-counter transactions, including issuers, investment companies and funds, brokers and banks. It should be especially noted that the listed organizations were not taxpayers; the duty to collect and transfer taxes to the budget was imputed to them as plenipotentiaries of the state, who played the role of fiscal agents. For this purpose, the transactions were registered in a special journal, where the very fact of the transaction was noted with an indication of its amount and tax on transactions with securities, the form of payment and the date of tax payment. The tax amount was paid by the payer when registering the transaction and was transferred to the federal budget within three days; at the same time, the registrar organizations were responsible for the timeliness of their receipt into the budget.

Analyzing the norms established by the Law "On Tax on Transactions with Securities" as amended in 1991, it is easy to see that they were limited in nature and did not cover the entire range of both actions performed with securities that are subject to taxation and liable persons. participating in transactions.

Changes in the taxation system. The Federal Law of the Russian Federation "On Amendments to the Law of the RSFSR" On Tax on Transactions with Securities ", which came into effect from the date of its official publication in the" Rossiyskaya Gazeta "on October 24, 1995, made significant changes to the legislative base of the system of taxation of transactions with securities papers. First of all, this affected the definition of the category of tax payers; now they are only legal entities - issuers of securities. The changes also affected the object of taxation.

Object of taxation. The object of taxation in accordance with the Law under consideration is the nominal amount of the issue of securities declared by the issuer. Consequently, it can be assumed that the effect of this Law applies to those securities, the issue of which not only provides for the registration of the prospectus, but also does not require these actions. Securities subject to the force of the new Law include shares and bonds issued by open and closed joint-stock companies, derivative securities, and housing certificates, defined as any securities or obligations denominated in units of total housing area and having an indexed par value in monetary terms. This range of securities can be expanded if the issuance of other securities provides for the procedure for state registration of the prospectus.

Exceptions from the taxation system.

The tax is not levied on joint-stock companies that carry out the initial issue of securities when the given joint-stock company is founded.

In accordance with the new Law, the nominal amount of the issue of securities of joint-stock companies that increase the authorized capital by the amount of revaluations of fixed assets made by decision of the Government of the Russian Federation is not subject to taxation. This situation is described in the Law quite clearly, however, in the practice of its application, questions arise related to an increase in the authorized capital of a joint-stock company by increasing the par value of shares. In this case, it is stipulated that only the difference between the amount of the issue of shares of the new par value declared by the issuer and the amount of the authorized capital before its increase is subject to taxation.

The list of exceptions was supplemented by the Federal Law of the Russian Federation “On Amendments to Art. 2 of the Law of the Russian Federation "On Tax on Transactions with Securities" dated March 23, 1998. It notes that tax on transactions with securities is not subject to:

- the nominal amount of the issue of securities of a joint stock company, formed as a result of reorganization in the form of a merger, division or separation of joint stock companies;
- the nominal amount of the issue of securities of the joint-stock company, convertible into shares of the joint-stock company to which the affiliation is carried out, not exceeding the size of the authorized capital of the affiliated joint-stock company;
- the nominal amount of the issue of securities of a joint-stock company upon consolidation or splitting of previously placed shares without changing the size of the authorized capital of the joint-stock company;
- the nominal amount of the issue of securities of a joint-stock company upon conversion of previously placed shares of one type into shares of another type without changing the size of the authorized capital of the joint-stock company;
- the nominal amount of the issue of securities of a joint-stock company in the event that it decreases its authorized capital by decreasing the par value of shares.

Changes in the rate of tax payment.

A special feature of the new edition of the Law is the tax rate. If earlier, when selling government securities, the first owners had to pay 0.1% of the amount of the purchase and sale agreement, 0.3% - to the buyer of shares and bonds, and 0.3% - to the buyer and seller of savings certificates and bills of exchange. In the secondary market, the buyer of government securities also paid 0.1%, and both the buyer and seller of corporate securities paid 0.3% each. Now tax on transactions with securities is levied from the issuer in the amount of 0.8% of the nominal amount of the issue. In this case, the payer independently calculates the amount of tax, transfers it to the federal budget simultaneously with the submission of documents for registration of the issue, and if he is denied this, the tax is not refunded.

Responsibility for calculating tax. According to the requirements of the Law, the payer is responsible for the correctness of the tax calculation and for the timeliness of its payment; control over this is exercised by the tax authorities. The rules stipulate that within three days after payment of tax, a calculation of the tax on transactions with securities in any form should be submitted to the tax inspectorate, together with documents confirming its transfer to the budget.

Recall that the source of tax on securities transactions for all legal entities is net profit, and only investment funds have the right to attribute them to costs. These are the features of the composition of costs and the formation of financial results of investment funds.