Ministry of Finance recommendations pertaining to the taxation of operations performed during mandatory shares buyout

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Department of tax and custom-tariff policy of the Russian Federation Ministry of Finance has clarified certain details of taxation of personal income received by a natural person as a result of mandatory buyout of shares in his ownership in its Letter dated 1 November 2012 N 03-04-05/3-1247 “On taxation of personal income received as a result of shares buyout” (hereinafter – the “Letter”). The Letter is not a normative act and is not binding, representing a clarification of Ministry of Finance on application of legislation rules.

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Published In: Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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