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NO. 158-FZ OF OCTOBER 18, 1995
ON AMENDING THE LAW OF THE RSFSR
ON THE TAX ON THE OPERATIONS WITH SECURITIES
(with the Amendments and Additions of March 23, 1998, May 30, 2001)
Adopted by the State Duma on July 21, 1995
Approved by the Federation Council on October 3, 1995
Article 1. To amend the Law of the RSFSR on the Tax on the Operations with Securities (Vedomosti Syezda narodnykh deputatov Rossiyskoy Federatsii i Verkhovnogo Soveta Rossiyskoy Federatsii, 1992, No. 11, item 523), setting it forth reading as follows:
Article 1. Payers of the Tax
The payers of the tax on the operations with securities shall be the legal entities which are issuers of securities.
Article 2. Object of Taxation
The object of taxation in accordance with the present Law shall be the nominal amount of the issue of securities announced by the issuer.
The following shall not be an object of assessment for this type of tax:
the nominal amount of an issue of securities of a joint-stock company placed among the promoters of the joint-stock company when floating the joint-stock company;
- the nominal amount of the issue of the securities of the corporations increasing their authorized capital by the value of the reappraisals of the fixed assets conducted by a decision of the Government of the Russian Federation.
the nominal amount of a securities issue of a corporations set up as a result of the reorganization in the form of a merger, splitting-up or separation of corporations;
- the nominal sum of an issue of corporations securities converted in the shares of the corporations to which the attachment is effected, not exceeding the amount of the authorized capital of the corporations being attached;
the nominal amount of an issue of securities of a corporations in case of consolidation or splitting up of the shares placed earlier, with the amount of the corporations authorized capital remaining unchanged;
the nominal amount of an issue of securities of a corporations in case of the conversion of the shares of one type placed earlier in the shares of another type, with the amount of the authorized capital of the corporations remaining unchanged;
the nominal sum of an issue of securities of a corporations company in case when this company decreases the amount of its authorized capital by means of reducing the face value of the shares.
the nominal amount of an issue of securities of a joint-stock company in case of the increase by it of its authorized capital by way of increasing the nominal denomination of placed shares in the part equal to the amount of the authorized capital of the joint-stock company before its increase;
the nominal amount of an issue of emissive securities of a legal entity, except for the nominal amount of an issue of shares, when converting into them emissive securities of the said legal entity in case of its transformation in the part equal to the volume of the issue of emissive securities of this legal entity registered before (prior to the transformation);
the nominal amount of an issue of shares of a joint-stock company floated by way of transformation of a legal entity of other organizational and legal form in the part not exceeding the amount of the authorized capital ( a pooled capital, a co-op share fund) of the legal entity being transformed;
the nominal amount of an issue of emissive securities of a legal entity, safe for the nominal amount of shares, when converting into them emissive securities of other legal entity accessed to it which have been placed before, in the part equal to the volume of the issue of emissive securities registered before (prior to the accession);
the nominal amount of issues of securities of the state securities of the Russian Federation, the state securities of subjects of the Russian Federation and municipal securities;
the nominal amount of issues of emissive securities of joint-stock companies issued for the purpose of restructuring their debts to the budgets of all levels, if the said securities have been transferred (and) or charged in favor of the authorized body of executive power with the observance of the conditions of the said restructuring of debts in respect to the said budgets;
the nominal amount of an issue of bonds emitted by the Central Bank of the Russian Federation for the purpose of implementing its monetary policy in compliance with the effective legislation.
Article 3. Tax Rates
The tax on the operations with securities shall be collected at the rate of 0.8 per cent of the nominal amount of the issue. In the case of a refusal to register the issue, the tax shall not be refundable.
Article 4. Calculation of the Amount of the Tax
The payer shall calculate the tax amount on its own, proceeding from the nominal amount of the issue and the relevant tax rate.
The tax on operations with securities carried out in foreign currency shall be calculated in roubles, converted at the rate of exchange established by the Central Bank of the Russian Federation, and effective on the date of the registration of the issue.
Article 5. Procedure and Time of the Payment of the Tax
The tax amount shall be payable by the payer simultaneously with the presentation of the documents for the registration of the issue, and shall be transferred to the federal budget.
In case of the violation of conditions of restructuring debts of joint-stock companies in respect to the budgets of all levels, the tax on the emissive securities transferred and (or) charged in favor of an appropriate body of executive power shall be paid by the emitter within three working days as of the notification of a joint-stock company by the appropriate body of executive power about the sale of the said securities and shall be transferred to the federal budget.
Within three working days as of the date of payment of the tax a taxpayer shall present to the appropriate tax body a calculation (a declaration) of the amount of the tax with the indication of the total volume of the issue of securities.
Article 6. Responsibility of the Payers of the Tax
The payers shall bear responsibility for the correctness of the calculation and the timeliness of the payment of the tax in the cases and in the procedure stipulated by the legislative acts of the Russian Federation.
The control over the fullness and timeliness of the payment of the taxes shall be carried out by the tax bodies.".
Article 2. To suggest to the President of the Russian Federation and to order the Government of the Russian Federation that they bring their normative legal acts into conformity with the present Federal Law.
Article 3. The present Federal Law shall enter into force upon the day of its official publication.
Moscow, the Kremlin
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