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Some Financial Market Services Made Exempt from VAT

05.09.2013 09:44 / PRIME

Prime Minister Dmitry Medvedev has signed a regulation exempting a list of services from value added tax (VAT). The document has been published on the Government’s website.

The list covers services rendered as part of licensed business by depositaries, dealers, brokers, investment fund management companies, private investment funds and non-state pension funds, clearing houses and other financial market participants.

The document was drafted by Minfin in collaboration with MIFC Taskforce.

“The implementation of this regulation will ease the tax burden for parties trading in securities, forex and commodities markets”, according to the document memo.

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