OREANDA-NEWS. January 18, 2011. HM Revenue and Customs of Great Britain has accorded the MICEX Stock exchange ‘Recognised stock exchange’ status.

Under Section 1005 (1) (b) of the Income Tax Act 2007, the taxation laws of Great Britain allow bond issuers at ‘Recognised stock exchanges’ to not function as taxation agents for listed bonds for United Kingdom taxation purposes.

Investors buying bonds of issuers at a ‘Recognized stock exchange’ receive coupon payments in full (without tax deducted). Where this occurs investors will need to consider the taxation implications of income from such bonds.

The ‘Recognised stock exchange’ status applies to securities included in Quotation list A 1st Level and Quotation List A 2nd Level of the MICEX Stock Exchange.

The MICEX Stock Exchange`s CEO, Marina Medvedeva, highlighted the importance of the designation for encouraging further listings in Russia. “In Russia, a regulatory base has been generated, facilitating listing and circulation of internationally issued securities. We hope that recognition of the MICEX Stock exchange by HM Revenue and Customs will encourage international issuers to our stock exchange and new investors on the Russian securities market”, she said.