OREANDA-NEWS. Internal Revenue Service (IRS), the U.S. government agency responsible for tax collection and tax law enforcement, has signed an agreement for implementation of the Qualified Intermediary (QI) functions by National Settlement Depository (NSD), Russia’s central securities depository, and assigned the Qualified Intermediary’s Employer Identification Number (QI-EIN) 98-0242512 to NSD.

NSD is the first Russian company which received the status of Qualified Intermediary in respect of American securities.

The QI status received by NSD will contribute to reducing for its clients the rates of tax for American issuers’ securities admitted to trading in Moscow Exchange or in the OTC market, and to decreasing the Russian market participants’ costs during execution of securities owners’ rights.