Draft order: Recognised Stock Exchange (MICEX Stock Exchange) (Russia) Designation Revocation Order 2022
Read the full outcome
Detail of outcome
HMRC is grateful for comments received on the draft revocation order in connection with the Moscow stock exchange. Five responses were received.
In light of the responses, the draft revocation order has been amended so that Stamp Duty Reserve Tax is correctly chargeable on depository interest transactions from the date of revocation.
As restrictions on UK investors remain in place, HMRC has revoked the Moscow stock exchange’s designation as a recognised stock exchange with effect from 5 May 2022.
Original consultation
Consultation description
In light of ongoing restrictions on dealing on the Moscow stock exchange on behalf of UK investors, HMRC considers it inappropriate that it continues to be designated as a recognised stock exchange under section 1005, Income Tax Act 2007.
If such restrictions are ongoing on 5 May 2022, HMRC proposes to make an order to revoke its designation.
The order will preserve the status of existing investments for existing investors.
Documents
Updates to this page
Published 19 April 2022Last updated 5 May 2022 + show all updates
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Published response summary and final revocation order in the 'Detail of outcome'.
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First published.