The removal of the status means that investors will not be able to access UK tax benefits in the future when trading securities on the Russian exchange.
The UK tax regulator has revoked the status of a recognized stock exchange from the Moscow Exchange. This was reported on the department’s website.
The decision was announced in mid -April and took effect on Thursday, May 5th.
The removal of the status means that investors will not be able to access UK tax benefits in the future when trading securities on the Russian exchange. These include, in particular, exemption from interest tax on qualified Eurobonds and the possibility of depositing shares in an individual savings account.
It was noted that such measures are caused, in particular, by the restrictions of the Central Bank of the Russian Federation, which prohibits brokers from selling assets on behalf of non -residents. This means that the exchange no longer works according to commercial standards.
“The de-recognition of the Moscow Stock Exchange sends a clear signal that there is no new investment in Russia,” said British Chancellor Lucy Fraser.
The regulator informs that the decision does not apply to investments made before the date of recovery of status.
It was previously reported that Russians will no longer have access to up-to-date market data from Nasdaq exchanges, and any active subscription to market data will be automatically canceled.
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Source: korrespondent
