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Better IIA Terms Under Discussion, says Voloshin

12.04.2016 17:13 / MIFC

Head of MIFC Taskforce Alexander Voloshin says debates are underway with the Ministry of Finance on improved terms for Individual Investment Accounts (IIAs).

Speaking at the Exchange Forum in Moscow, Voloshin said: "Tax regime can drive financial industry development. We are currently discussing further improvement of IIA tax benefits with the Ministry of Finance. Our proposal is to increase the maximum deposit from RUB 400k to a million and cut the invetsment term from three years to one. We think the IIA has proved to be effective as an instrument, with a total of over a hundred thousand accounts already opened. This instrument is good for financial industry development, and it also stimulates long-term invetsment. The tax benefits appear reasonable and justified".

Taxation of financial transactionsProject Group №1Alexander Voloshin