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Russia: Domestic Taxation

Capital Gains Tax

Capital gains on the disposal of securities are subject to profits tax at 20% (reduced from 24% in 2008). Capital losses are available for deduction and carry forward against gains on the same category of securities (ie quoted or unquoted).

Capital gains are computed as gross proceeds less net book value (for depreciable assets) or acquisition cost (for other assets). Incidental costs of disposal also are deductible. Capital losses on the disposal of depreciable property are deductible with the deduction allocated evenly over the residual useful life of the property. If the expenses related to such income are not recognized as deductible, tax of 20% is applied to gross proceeds.



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