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The Ministry of Finance of Russia develops legislative amendments, which are assumed to be made before the end of this year. According to the amendments, Russian citizens will have the right to open accounts in financial institutions precious metals. Also under the changes, citizens are going to allow to do the purchase and sale of gold without taxation of this transaction. This news was shared by Alexey Moiseev, who served as Deputy Minister.
the Agency plans to amend the civil code of the Russian Federation, according to which the banking institutions to open accounts directly in precious metals in contrast to existing accounts that are tied to the cost of the precious metal. This practice is widespread at present in foreign banks. But, it is worth noting that the relevant account will not be subject to the rules of ASV Russia.
According to the current legislation, the sale of gold to individuals is taxable at the rate of 18% surgery. As for accounts in precious metals, they are now impersonal, namely, a Bank customer is not the owner of the precious metal, and a Bank account only takes into account the dynamics of the value of the metal.
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