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UK to revoke Moscow Stock Exchange’s status

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HMRC is to revoke its classification of the Moscow Stock Exchange (MOEX) as a recognised stock exchange, meaning future investors will no longer be able to access certain UK tax benefits when trading securities on MOEX, such as exemption from withholding tax on interest-bearing qualifying Eurobonds and eligibility for inclusion in an ISA. Access to those reliefs will remain in place for existing investments.

HMRC has launched a consultation, closing on 2 May 2022, that seeking views, including on a draft revocation order, before the decision is finalised.

Issue: 1573
Categories: News