OREANDA-NEWS. September 28, 2011. National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, has introduced a new service providing an opportunity to reduce a withholding tax rate on foreign issuers' securities (in compliance with international agreements on avoidance of double taxation ) according to the terms and conditions of the service provided by international settlement and clearing organizations Euroclear Bank S.A./N.V. and Clearstream Banking S.A.

NSD services 694 foreign issuers' securities using its accounts with Euroclear Bank S.A./N.V. and Clearstream Banking S.A. 120 of them are taxable in compliance with the legislation of the countries of origin of the securities.

Relief-at-source withholding tax rate on foreign issuers' securities allows NSD's depositors to receive additional income timely in compliance with international standards of securities servicing.