Companies are exempt from paying VAT on the transactions for the sale of shares and stocks
From January 1, entities are exempt from value added tax on transactions for the sale of shares and stocks. The corresponding change has been made to the Tax Code.
In one of the brokerage companies to conclude such transactions they told Turan, in practice, companies do not pay VAT on such transactions. An amendment to the legislation, possibly intended to regulate taxation of these transactions.
According to the National Depository Center, over 300 companies are the holders of shares in different JSC. For example, in early 2012, the company Tekfen Finance & Investment sold a 15% stake in JSC Cenubtikintiservis.
Under the tax law legal entities and individuals have to pay tax on profits (income) on the purchase and sale of shares and stocks in excess of the basic cost. Unlike entities, individuals do not make declarations on such transactions. The Ministry of Taxes has not paid attention to this fact. - 08B-
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