Tax incentives for acquisition of securities of Russian high-tech cos should be extended by 5 years - Siluanov

MOSCOW. July 18 (Interfax) - A proposal has been made to extend by 5 years the tax exemption incentivizing citizen's investments in securities of Russian issuers from the high-tech sector of the economy, Russian Finance Minister Anton Siluanov.

"To incentivize citizens willing to invest in securities of high-tech companies, we had an exemption from the tax base of income from the sale of securities of Russian issuers included in the list of securities of the high-tech sector of the economy, through the end of this year. We believe that this privilege should be extended, and we in the government believe that it should be extended by at least 5 years, so that citizens could more actively invest in the instruments of high-tech companies," he said at a meeting of the Council for Strategic Development and National Projects.

Central Bank of Russia (CBR) Governor Elvira Nabiullina also backed this proposal.