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Business / Finance

Three tax history

Banki.ru: themes of the day 28.02.2019 at 21:04

Banking and financial news on the website Banki.ru

Even if you just started to trade on the stock market, it is necessary to understand which taxes and in what amount you have to pay. Ignorance may lead the investor to substantial loss of investment.

the Russians continue to open brokerage and investment (IMS) accounts, seeking to increase their savings. According to NAUFOR, last year the number of accounts increased to 120 thousand, and all investors were about 1.5 million people. The procedure for obtaining access to the exchange is simplified and in some cases does not require a visit to the broker. And for the convenience of the investor at its disposal a range of services: from ready-made trading strategies to tax payments and deductions. At law broker, as the Bank is a tax agent, therefore, all mandatory contributions to the state he assumes. But this does not mean that the investor can relax and focus solely on stock trading. As practice shows, often the broker or the management company makes mistakes. To avoid paying too much, better to begin to understand how the taxation on the stock market, as early as possible.

the first Story. Overpaid for Eurobonds

Investor Michael with a serious enough for our market experience was very surprised when I decided to close my account at a major investment company and withdraw money. The broker informed him that he will be withholding tax — 377.6 thousand rubles. At the time Michael bought Eurobonds of Alliance Oil company, and, of course, he knew that the profit shall deduct state required 13%. However, the amount of bother: according to the calculations of the investor was that he should pay less. At his request broker counted the tax, and suddenly it became clear that, indeed, it needs to pay much less — 335,3 thousand rubles. But this sum did not suit the investor.

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having Studied the statements of the broker and comparing quotes data exchanges, Michael found that the company incorrectly calculated its expenses on the purchase of Eurobonds and resulting in overstated taxable income as much as 810 thousand rubles! It happened, first, because the broker was reflected the wrong purchase price in order to purchase bonds of Alliance Oil was provided by 76.5% of the nominal value, and in the personal Cabinet of the client and in the broker's report somehow appear 67,54%. In addition, as found by Michael, the broker is not reflected and the repayment of face value on bonds, which also distorted their market value when he decided to buy Eurobonds.

Alexander Bakhtin, investment strategist "BCS Premier":

"Perhaps the broker made a serious violation. But it is possible that the application has been executed at the best price, then there was no violation. This could occur, for example, if this rule is not spelled out in the agreement. Usually, if one security is traded on multiple platforms, then execution can occur on any quote".

the Company agreed to compensate a part of losses incurred by the investor until the money was in the account, not the movement, but according to own calculations, in the end, Michael decided to pick up the money. And to try to recover overpaid taxes, has filed a lawsuit (is at the disposal of Banks.PY), where they demanded to pay damages, which, he believes, arose from the poor quality of the services provided by the broker.

Denis Kovalev, head of customer service Department "Opening Broker" Dennis Kovalev:

"the transaction Price should be equal to the price in the report. Theoretically, in the report broker can be a mistake (as a result of any technical malfunction), but in practice this is extremely rare. If, however, the transaction price in the report is incorrect, the broker in case of error detection needs to amend a report, send correction reports to the regulator and to inform the client."

the second Story. IMS planted problems

the Former owner of the individual investment accounts Vladimir Kitov (name changed) did not expect that after close IIS, the tax to him may have a claim. So was very surprised when I received a letter stating the following: "the results of your operations with securities and derivative financial instruments in the framework of all brokerage agreements in effect in 2018, you were assessed the tax on the income of individuals... thus, as of 1 February 2019 has nederjanii broker income tax in the amount of RUB 94".

Denis Kovalev:

"the Broker is a withholding agent and responsible for withholding personal income tax. In this case the broker may not be able to deduct the tax, then he shall report to FNS that the tax was not withheld from the client. In this case, the responsibility for payment of personal income tax charged to the customer. If the customer found out that he overpaid, then at the end of the tax period he can return the tax through a broker or on by submitting an application (this can be done only in the last three years) ".

to find Out why the company did not hold all the required taxes and have not made a mistake in the calculation of the tax itself, a former investor did not. "I'm not a hundred rubles in tax is a pity, that now because they are paying lots of mess, although they could hold him on their own, if only previously said about it", — he wrote on theme forum Banks.ru. According to Vladimir, the problem is in the fact that in three years of ownership of IMS he performed many operations. So, even if the broker has not removed the statements from your account after account closure, to see who made a mistake with the calculations, it would be very difficult. The investor can only be glad that the tax did not demand a more substantial amount. And the fact that the letter from FTS he got before filed a tax return that otherwise it would need to be redone, wasting time and effort or take the risk of running into a penalty.

Alexander Bakhtin:

", Individuals still need to make the payment in favor of the tax, if indeed the broker did not hold some amount. For a broker that is more of a reputational risk."

the third Story. Count your dividends

the Story of the Banks.ru told Olga that invest in us stocks, once again shows how complex and confusing our tax system. Even the investor is not immune from problems, especially if we are talking about the calculations in the currency. At the time in its portfolio were the shares of major companies that regularly paid dividends. This income is reinvested it by buying the new paper, and sometimes exasperated at the Bank account.

last year, shared the Olga, when she decided to sell the shares and withdraw money to a Bank account, it was discovered that she would have to pay a significant amount in tax. Moreover, taking into account the already paid dividend received amount was higher than that expected by the investor. Logically part of the tax (10%) for it had to pay us broker, who was a Russian company (subbrokers account), the client and which was Olga.

Anton Berliner, senior financial Advisor "BCS Premier":

"the Tax on dividends levied by foreign broker, and the difference is paid on top of the client. Russian broker is not a tax agent, in contrast to the situation when the customer has sold or bought foreign stocks, as in the U.S. with these transactions the tax does not apply. For payment of the tax (3%) in Russia, the American owner of the shares must file a tax return with the IRS before may 1 of the following year. The amount is calculated at the exchange rate on the date of transfer of dividend".

Olga made the decision that the Russian broker must now give the state 13%, and only 3% of the received dividend payments. The fact was that the brokers had no information about the fact that their foreign partner has paid the taxes, plus, the investor, the company incorrectly determined the dollar / ruble exchange rate, which also depends on the amount of taxes. Now she waits for a response to its claim and in case of failure of the broker to review the calculations intends to file a complaint in the Central Bank.

Denis Kovalev:

"the Tax on dividends for foreign shares listed in the IRS (IRS. — Approx. Banks.ru) in the amount of 30% or 10% (if a signed form W8) + exceptions spelled out on the IRS website. Tax agent is the parent, the Depositary, and not the broker. The dividend amount comes to brokerage account free of tax. In this case the broker sends the client information about the Depositary withheld by a higher tax, which is a confirmation of the payment. Situations where the higher the Depositary has failed to withhold tax, can not be, as it will risk sanctions from the IRS to the Depositary is a tax agent".

albert KOSHKAROV, Banki.ru