Russia tries to support private investors

Citizens who have been investing in securities for 3 years are tax free. The Federal Financial Markets Service (Russia) encourages long-term individual investors.

The Federal Service for Financial Markets is planning to return the tax release in 2012 for individuals who invest in securities for three years.

Dmitry Pankin the department head says that the possibility of the rates returning is under discussion. It has been announced during the parliamentary speaking. The relevant legislation is planned for the spring, reports RosInvest.Com.

"We have reached some agreements with the Ministry of Finance that we can return it back. This is not the final thing however it is also a powerful incentive for the development of individual investors in Russia ", - says Mr. Pankin.

It will attract long-term private investors according to the head of the Federal Financial Markets Service.

There are about a million of individual investors in Russia and hundreds of million in China, says Mr. Pankin.

11 November 2011
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