The Russian Ministry of Finance recently published Letter No. 03-03-06/1/9087, which clarifies the application of the 0% tax rate on income from the sale or other disposal of shares (stakes) in a Russian legal entity acquired on or after 1 January 2011. According to the letter, the 0% rate is available provided that the shares were held for a period of at least five years and one of the following conditions is met:
- The shares were not circulated on a securities market at any time during the …