The deal of sale of "Donskoyi Tobac" to the Japanese producer Japan Tobacco (JTI) for $ 1.6 billion may be partially exempted from taxation. The possibility of such situation exists due to the tax benefits, adopted in 2011 on income tax (TIPI). If the deal took place six months earlier, the amount of tax deductions to the budget of the city and the region would be 11.7 billion rubles TIPI.
"If the tax resident owns shares or a non-public company's stake for more than five years, and shares were acquired after 2011, he falls for tax benefits, according to p. 17.2 of article 217 of the Tax Code of the Russian Federation (" Income of individuals exempted from taxation "), says Yury Mirzoyev, CEO of National Law Company “Mitra”.
According to p. 17.2 of Article 217 of the Russian Federation Tax Code, individuals are exempted from personal income tax on income, received from the sale (repayment) of parts in the chapter capital of Russian organizations, as well as shares, in case that on the date of sale (repayment) of such shares (parts) they have continuously belonged to the taxpayer on the right of ownership or other proprietary rights for more than five years. This article applies to fuds, which were bought from 1 January 2011.
Material was taken from “Expert Yug”
