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MOSCOW, July 24 (Itar-Tass) - Russian President Vladimir Putin has signed amendments to the Russian Tax Code, exempting from taxation the interest on Eurobonds of Russian issuers that they pay to the foreign holders. The bill “On Amendments to Chapters 21 and 25 of the Tax Code of the Russian Federation and Certain Legislative Acts of the Russian Federation” was published in the databank of normative documents.
Thus, the Russian issuers are indefinitely exempt from the fiscal agent duties on profit tax as regards interest payments to the holders of marketable bonds. The securities that have passed the listing procedure and are admitted to trading on one or several foreign stock exchanges and (or) registration of rights to which is made by depository clearing organisations, are recognised as marketable bonds.
The amendments were previously approved by the State Duma and the Federation Council lower and upper houses of parliament.