Russian private investors have become a rather serious factor in the pricing of the Russian stock market in recent years, said the First Deputy Chairman of the Bank of Russia Sergei Shvetsov during a conference at the Open Day of the Central Bank of the Russian Federation. “Of about 6 million citizens, about half invests precisely through individual investment accounts (IIS). The creation of IIS spurred the arrival of citizens on the Russian stock market,” he said.
“The share of citizens on the stock market is now growing very strongly: if earlier it was less than 1%, now it is about 4%. And only on IIA we already see more than 200 billion rubles. These are quite large amounts, bearing in mind that citizens also invest without IIA. “, – said Shvetsov.
“Citizens have become a fairly large factor in the pricing of the Russian securities market in recent years. And this trend will continue. And in this sense, it is very important that citizens act consciously in the stock market. And the stock market should satisfy their needs to increase their capital on based on correct risk acceptance, “added the first deputy chairman of the Central Bank of the Russian Federation.
An individual investment account can be opened from January 1, 2015. A broker or trustee can open such an account for an individual. Now a citizen has the right to have only one contract for maintaining IIS. The total amount of funds that an individual can transfer to a broker or trustee under an IIS agreement is 1 million rubles during the year.
There are two types of tax deductions for an individual investment account. The taxpayer can choose only one of them. In the first case, the taxpayer will be able to annually receive a tax deduction for personal income tax in the amount of money deposited in the tax period to an individual investment account. In the second, after the end of the contract for maintaining IIS, after at least three years, the taxpayer can receive a deduction for personal income tax in the amount of income received from operations on the investment account – i.e. all profits will be exempt from taxation.
At the moment, discussions are underway on changes to the IIS concept: an increase in the maximum amount of funds that an investor can deposit into an account from 1 million to 3 million rubles. Also, the new bill provides for the ability to open several IIS and partially withdraw funds without closing the account.
According to Shvetsov, now the Central Bank of the Russian Federation, together with the government, are finalizing the text of the law. “I really hope that the problem will be solved within the next year,” he added.