Forex dealers to stop operating in Russia after the New Year - page 7

 
Дмитрий:

Three times eight again..........

Once again - corporate income tax.

You pay personal income tax anyway - if you get a sum of money from someone abroad on your card, do you pay personal income tax?

Does the law equate a dealing centre with a casino? I read it a long time ago, but it seems we are talking about forex dealers, i.e. firms that actually buy and sell foreign currency for the benefit of the client.

Accordingly, the funds received from the client are not income, only the additional spread and commission are income.

 
-Aleks-:

Does the law equate a DC there with a casino? I read it a long time ago, but it seems we are talking about forex dealers, i.e. firms that actually buy and sell currencies for the benefit of the client.

Accordingly, the funds received from the client are not income; only the additional spread and commission are income.

Who do they buy and sell currency from?
 
In short - the law is needed precisely to receive taxes from LEGAL PERSONS into the budget of the Russian Federation, not into the offshore budget.
 
Игорь Герасько:
Essentially true, but in fact it is not. )) After all, it is worth mentioning that we are all also the biggest corruptors, since any goods we buy include all the bribes paid by producers, suppliers and vendors combined.

I am talking about the essence, as the TC is designed, VAT as well as Excise and personal income tax are indirect taxes, i.e. they are paid by the end consumer (or recipient of income, like personal income tax).

And about bribes - they are included in the cost of the product - it is the normal cost of production and they do not add to the budget.

 
Дмитрий:
Who do they buy and sell currency from?

Now? That's the thing...

So there can no longer be any real DCs in Russia. By the way, the leverage seems to have been slashed heavily at the legislative level there....

 

No forex company has yet submitted documents for licensing - not because it doesn't want to, but because there is not yet a regulation registered with the Ministry of Justice setting out the licensing procedure, says Alexander Razuvaev, director of Alpari's analytical department. "As soon as there is a registered regulation, Alpari will complete the preparation and submit all the documents for licensing," he assures.

The set of documents for licensing includes about 40 different questionnaires, certificates, conclusions and a business plan for two years, says Drigailo. Besides, the company has to meet certain requirements set by the Central Bank. Dealers will have to contribute 2m rubles to the compensation fund of a self-regulating organization (SRO), which is formed in case of bankruptcy of the company, and increase own funds to 100m rubles.

During an on-site inspection, Central Bank employees will check the accuracy of the data provided.

The regulator may also return the documents to the company for revision. The re-examination process will take another 60 working days, Drigailo said.

"Many forex companies find it difficult to meet all the requirements to form their own funds, staff (it takes a month only to issue a certificate of no criminal record) and to purchase software in such a short time," says Alexey Yevsikov, legal director of the Centre for Regulation of OTC Financial Instruments and Technologies (CRFIN).

http://rbcdaily.ru/finance/562949998133196

Форекс-компании прекратят работу в России после Нового года - Газета РБК
Форекс-компании прекратят работу в России после Нового года - Газета РБК
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На данный момент еще ни одна форекс-компания не подала в ЦБ документы на получение лицензии. Это означает, что ни один российский дилер не сможет работать с 1 января 2016 года на законных основаниях. С момента вступления в силу закона о рынке Forex (foreign exchange market, рынок обмена валюты по свободным ценам — без ограничений) прошло...
 
-Aleks-:
The point is that banks can now be required to withhold personal income tax when funds from DC clients are credited to their accounts. But a deduction will not be realistic - that is the danger.
What law are you basing this on? Do you mean the withdrawal of profits or the funding of a trading account?
 
forexman77:
On which law are you basing your argument? Receipts - do you mean withdrawal of profits or depositing funds into a trading account?
Receipts into the current account of an individual. The law is the RF Tax Code.
 
-Aleks-:
Receipt of funds into an individual's current account. Law - Tax Code of the Russian Federation.
Clause, article?
 
forexman77:
Clause, article?

A deposit to a trading account is not taxable as it is our money on which taxes have already been paid!

The difference is taxable if the deposit into your bank account is greater than your deposit into your brokerage account.