The government is planning to exempt investors from long-term capital gains taxes, but for now the rules would only apply to shares of companies not traded on exchanges, in hopes of stimulating private equity and venture capital investment.
A special focus was put on boosting innovation during a meeting chaired by Prime Minister Vladimir Putin last week on tax policy for the coming three years.
Putin agreed with a proposal to exempt the sale of not publicly traded shares from the 20 percent tax on capital gains, a move intended to increase long-term investment in innovative companies and entice investors to conduct their deals in Russia's legal jurisdiction, two officials with knowledge of the meeting told Vedomosti.
Putin's press secretary, Dmitry Peskov, declined to comment on the matter.
Under an Economic Development Ministry proposal that was forwarded to the Finance Ministry before the meeting, the tax break would apply to stakes of at least 10 percent held for at least five years. A copy of the proposal was obtained by Vedomosti.
To read the full, original article click on this link: Tax Breaks Planned for Innovation Investors | Business | The Moscow Times
Author: The Moscow Times
