Individual investment accounts (IMS), introduced last year to attract private investors to the stock market, become a new means of tax evasion, the newspaper “Vedomosti” with reference to top-managers of several brokerage companies.

According to the Moscow stock exchange, today it’s open almost 150 thousand IMS. They can make to 400 thousand rubles and get a deduction on personal income tax (13% to 52 thousand) from operations with securities.
Cases of tax evasion with the help of IMS, so far, however, the tool market is still new.

One of the schemes of tax evasion through MIS is implemented in operations with derivatives. As told to the head of compliance control “Aton” Irina Grekova identified counter transactions of clients – direct relatives.

The scheme she describes as follows: on IMS paid the minimum amount required to buy a fixed-term contract (e.g. 100), then, in RPS this contract is sold much more expensive (for example, for one thousand rubles) the owner of an ordinary brokerage account.

The client has access to both terminals, as a result of funds transferred from regular accounts on IMS, decreases the tax base for ordinary account (contract sold at a loss) and the transfer of 400 thousand rubles on IMS obtained a tax deduction of 13% (52 thousand). The scheme works if the brokerage account owns person or legal entity, the newspaper notes.

“Aton” considers such transactions as are performed with the purpose of optimization of taxes for third parties, and reporting obligations to the tax, as the thepromember, the company does.

The brokerage organization may require an explanation of the economic feasibility of the IMS holder to buy securities is it legal entities or physical persons, and not just on the market and in the absence of an explanatory note has the right to close the account.

A top Manager of another broker tells of another scheme, when the securities with conventional accounts, which formed a profit, sold to the owners of several IMS with a small loss to reduce tax on profit on ordinary account. Accounts can be opened in the family, and sometimes their owner is one person.

President of the National Association of stock market participants Alexey Timofeev I am confident that IIA will find mass use it on purpose.



Vedomosti: exchange tool for attracting private investors use for tax evasion 27.09.2016

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