Taxation of personal income tax on trust management of securities. Taxation is subject to income directly paid to the trustees of the founders of the administration under the contract of trust management of property Procedure for submitting a report

For income received by an individual under a trust management agreement under a deposit agreement, a trust manager is recognized as a tax agent. Taxation of personal income tax is carried out without taking into account the specifics of determining the tax base established by Art. 214.2 of the Tax Code of the Russian Federation, and the rules on exemption from taxation of interest on deposits in banks, provided for in paragraph 27 of Art. 217 of the Tax Code of the Russian Federation. Rationale: Features of determining the tax base for personal income tax when receiving income in the form of interest received on deposits in banks are established by Art. 214.2 of the Tax Code of the Russian Federation. Paragraph 27 of Art. 217 of the Tax Code of the Russian Federation provides for grounds for exemption from taxation of income in the form of interest received by taxpayers on deposits in banks located in the territory of the Russian Federation. In accordance with paragraphs. "b" clause 4.13 of Instructions of the Bank of Russia dated May 30, 2014 N 153-I "On opening and closing bank accounts, deposits (deposits), deposit accounts" the bank must have an agreement on the basis of which trust management is carried out. According to Art. 1012 of the Civil Code of the Russian Federation, the transfer of property to trust management does not entail the transfer of ownership of it to the trustee. At the same time, the trust manager makes transactions with the property transferred to trust management on his own behalf, indicating that he acts as such a manager. It follows from the foregoing that the deposit agreement is concluded not by an individual - the founder of the trust management, but by the trustee on his own behalf, although at the expense of the trustee's funds. Since an individual does not enter into a deposit agreement with the bank, in the situation under consideration, the individual receives not interest income on deposits with the bank, but income from trust management from the trustee. According to paragraph 1 of Art. 226 of the Tax Code of the Russian Federation, in particular, a Russian organization is recognized as a tax agent, from which or as a result of relations with which the taxpayer received income. Thus, when paying individuals income from trust management, a trustee is recognized as a tax agent. A similar position is reflected in the Letters of the Ministry of Finance of Russia of June 25, 2015 N 03-04-06 / 36705, of October 9, 2015 N 03-04-06 / 57967. Given the above, the recipient of income in the form of interest under a deposit agreement concluded by a trustee is recognized as an individual - the founder of the management, while the income received is considered as income from trust management. At the same time, personal income tax is withheld from such income when it is paid by the trustee to an individual (clause 1, clause 1, article 223 of the Tax Code of the Russian Federation).

Is a trustee recognized as a tax agent for personal income tax in respect of interest received by a client - an individual under a deposit agreement, if the deposit agreement is concluded by an organization - a trustee with a bank within the framework of trust management? What is the procedure for taxation of personal income tax in this case?

A Russian organization is recognized as a tax agent for income tax upon payment of:

• dividends to Russian organizations (clause 3, article 275 of the Tax Code of the Russian Federation) and foreign organizations that have permanent representative offices in Russia (clause 3 of article 275, clause 6 of article 282.1 of the Tax Code of the Russian Federation);

• interest on state and municipal securities to Russian organizations and foreign organizations that have permanent establishments in Russia (with some exceptions) (clause 5, article 286 of the Tax Code of the Russian Federation);

• to foreign organizations that have permanent representative offices in Russia, income not related to the activities of these representative offices (clause 4 of article 286, subclause 1 of clause 4 of article 282, clause 6 of article 282.1 of the Tax Code of the Russian Federation);

• certain incomes to foreign organizations that do not have permanent representative offices in Russia (clause 1, article 309, clause 1, article 310 of the Tax Code of the Russian Federation).

Situation: is it necessary to act as a tax agent for income tax? A Russian organization applying the general taxation system pays dividends to a Russian organization on simplified taxation.

Yes need.

Organizations applying the simplified system are recognized as payers of income tax on the dividends due to them (paragraph 1, clause 2, article 346.11 of the Tax Code of the Russian Federation). If the source of payment of dividends is a Russian organization that applies the general taxation system, it is recognized as a tax agent (clause 3, article 275 of the Tax Code of the Russian Federation). When paying income to taxpayers, tax agents are required to withhold from them the taxes provided for by law and transfer them to the budget (subclause 1, clause 3, article 24 of the Tax Code of the Russian Federation).

Thus, when paying dividends to a Russian organization applying simplified taxation, a Russian organization applying the general taxation system must act as a tax agent for income tax. Similar explanations are given in the letter of the Ministry of Finance of Russia dated September 30, 2013 No. 03-11-11/40267.

Situation: is it necessary to act as a tax agent for income tax? The Russian organization pays dividends to the founder, which is the state (subject of the Russian Federation, municipality).

No, it doesn `t need.

An organization - tax agent must withhold income tax on dividends if its founder (participant) - the recipient of dividends is a taxpayer (clause 1, article 24, article 275 of the Tax Code of the Russian Federation).

The state, constituent entities of the Russian Federation, municipalities are public entities, whose interests (including control over the payment and transfer of dividends from subsidiaries to the budgets) are authorized by individual state authorities and local governments. This follows from the provisions of Article 124 of the Civil Code of the Russian Federation. One of the administrators of dividends due to the Russian Federation and its constituent entities is the Federal Property Management Agency and its territorial departments (Article 4 of the Law of December 2, 2013 No. 349-FZ, Appendix 7 to the instructions approved by Order of the Ministry of Finance of Russia of July 1, 2013 No. 65n, p. 5.28, 5.31 of the Regulations, approved by Decree of the Government of the Russian Federation of June 5, 2008 No. 432). Despite the fact that income in the form of dividends is credited to the budgets through the structures of the Federal Property Management Agency, the actual recipient of these incomes is the public legal entities themselves.

Tax agents, as well as taxpayers, submit income tax returns to the IFTS at their location no later than 28 calendar days from the end of the corresponding quarter (clause 4, article 289 of the Tax Code of the Russian Federation).

Tax agents for income tax are those organizations that pay income subject to withholding tax to foreign companies.

The provisions of Article 24 of Part 1 of the Tax Code determine the procedure for recognizing a taxpayer as a tax agent, as well as his rights and obligations.

Tax agents are persons who, in accordance with the Tax Code of the Russian Federation, are responsible for:

• calculus,
• withholding from the taxpayer,
• transfer of taxes to the budget system of the Russian Federation.

At the same time, tax agents have the same rights as taxpayers, unless otherwise provided by the provisions of the Tax Code.

Tax agents are required to:

1. Timely, correctly and in full:

• calculate,
• withhold from the money paid to taxpayers,
• transfer taxes to the budget system of the Russian Federation to the appropriate accounts of the Federal Treasury.

2. Notify the IFTS at the place of your registration in writing:

• about the impossibility of withholding tax,
• about the amount of debt of the taxpayer

within one month from the date when the tax agent became aware of such circumstances.

3. Organize and keep records:

• income accrued and paid to taxpayers,
• taxes calculated, withheld and transferred to the budget system of the Russian Federation,

for each taxpayer.

4. Submit to the IFTS at the place of its registration the documents necessary to control the correctness of:

• calculus,
• retention,
• transfers

taxes.

5. Ensure the safety of documents necessary for:

• calculus,
• retention,
• transfers

taxes for four years.

The procedure for transferring withheld taxes for tax agents is similar to the procedure provided for by the Tax Code for the payment of tax by a taxpayer.

At the same time, in accordance with paragraph 5 of article 24 of the Tax Code of the Russian Federation, for non-performance or improper performance of the duties assigned to him, the tax agent is liable in accordance with the legislation of the Russian Federation.

The article will consider the provisions of the current legislation regarding:

• Income subject to withholding tax,
• Features of the calculation and payment of tax on income received by a foreign organization from sources in the Russian Federation, withheld by tax agents.

INCOME TAXED AT THE SOURCE OF PAYMENT AND TAX RATES

The provisions of Article 309 of the Tax Code define the types of income that relate to income from sources in the Russian Federation and are subject to taxation at the source of their payment.

Such income includes those incomes of foreign organizations that are not related to their entrepreneurial activities in the Russian Federation, namely (clause 1 of article 309 of the Tax Code of the Russian Federation):

1) Dividends paid to a foreign organization - a shareholder (participant) of Russian organizations.

These incomes are taxed at a rate of 15% (clause 3, clause 3, article 284 of the Tax Code of the Russian Federation).

2) Income received as a result of the distribution in favor of foreign organizations of profits or property of organizations, other persons or their associations, including in the event of their liquidation (subject to the provisions of clauses 1 and 2 of Article 43 of the Tax Code).

3) Interest income from the following debt obligations of any kind, including bonds with the right to participate in profits and convertible bonds:

• state and municipal emissive securities, the terms of issue and circulation of which provide for income in the form of interest;

These incomes are taxed, taking into account the peculiarities of clause 4, article 284 of the Tax Code of the Russian Federation, at rates of 15%, 9% or 0%.

• other debt obligations of Russian organizations not specified in the second paragraph of this subparagraph;

These incomes are taxed at a rate of 20% in accordance with paragraph 1 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

4) Income from the use of intellectual property rights in the Russian Federation.

These incomes are taxed at a rate of 20% in accordance with paragraph 1 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

Such income includes, in particular, payments of any kind received as a consideration for the use of (or for the granting of the right to use):

• cinematic films,
• films or recordings for television or radio broadcasting,

4.2) Any patent, trademark, drawing or model, plan, secret formula or process.

4.3) Information relating to industrial, commercial or scientific experience.

5) Income from the sale of shares (stakes) of Russian organizations, more than 50% of whose assets consist of real estate located on the territory of the Russian Federation, as well as financial instruments derived from such shares (stakes).

The exception is shares recognized as circulating on the organized securities market in accordance with paragraph 3 of Article 280 of the Tax Code of the Russian Federation.

At the same time, income from the sale on foreign exchanges (from foreign trade organizers) of securities or derivative financial instruments circulating on these exchanges, not recognized income from sources in the Russian Federation.

6) Income from the sale of real estate located on the territory of the Russian Federation.

These incomes are taxed at a rate of 20% in accordance with paragraph 1 of Article 284 of the Tax Code of the Russian Federation or in accordance with paragraph 1 of paragraph 2 of Article 284 of the Tax Code, depending on the procedure for recognizing expenses related to such income for the purposes of NU in accordance with paragraph .4 article 309 of the Tax Code of the Russian Federation.

7) Income from the lease or sublease of property used on the territory of the Russian Federation.

Including:

• income from leasing operations,

At the same time, income from leasing operations related to the acquisition and use of the leased asset by the lessee is calculated based on the entire amount of the lease payment minus the reimbursement of the value of the leased property (in case of leasing) to the lessor.

These incomes are taxed at a rate of 20% in accordance with paragraph 1 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

• income from the lease or sublease of sea and aircraft and (or) vehicles, as well as containers used in international transportation.

These incomes are taxed at a rate of 10% in accordance with paragraph 2 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

8) Income from international transportation (including demurrage and other payments arising from transportation).

The term "demurrage" is used in the meaning established by the Merchant Shipping Code of the Russian Federation.

International transportation means any transportation:

• sea, river or aircraft,
• motor vehicle,
• rail transport,

except for cases when transportation is carried out exclusively between points located outside the Russian Federation.

These incomes are taxed at a rate of 10% in accordance with paragraph 2 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

9) Fines and penalties for violation by Russian persons, state bodies and (or) executive bodies of local self-government of contractual obligations.

These incomes are taxed at a rate of 20% in accordance with paragraph 1 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

10) Other similar income.

These incomes are taxed at a rate of 20% in accordance with paragraph 1 of paragraph 2 of Article 284 of the Tax Code of the Russian Federation.

Note:Income received by a foreign organization from the sale of:

• goods,
• other property (except for the one specified in paragraphs 5 and 6 of paragraph 1 of Article 309),
• property rights,
• implementation of work,
• provision of services

on the territory of the Russian Federation, not leading to the formation of a permanent representative office in the Russian Federation in accordance with Article 306 of the Tax Code, withholding taxnot subject to(Clause 2, Article 309 of the Tax Code of the Russian Federation).

In addition, reinsurance premiums and bonuses paid to a foreign partner are not recognized as income from sources in the Russian Federation.

In accordance with clause 3 of article 309 of the Tax Code, the income specified in clause 1 of article 309 of the Tax Code of the Russian Federation is subject to taxation regardless of form in which such income is received, in particular:

• in kind,
• by paying off the obligations of this organization,
• in the form of forgiveness of her debt,
• set-off of claims to this organization.

FEATURES OF TAX ACCOUNTING FOR INCOME TAX AT A TAX AGENT

Features of the calculation and payment of tax on income received by a foreign organization from sources in the Russian Federation, withheld by a tax agent, are regulated by the provisions of Article 310 of the Tax Code of the Russian Federation.

Such tax is calculated and withheld in the currency of payment of income, and transferred to the federal budget in the currency of the Russian Federation.

The tax base for the income of a foreign organization subject to taxation in accordance with Article 309 of the Tax Code of the Russian Federation is also calculated in currency, in which a foreign organization receives such income (clause 5, article 309 of the Tax Code of the Russian Federation).

At the same time, expenses incurred in another currency are calculated in the same currency in which the income was received, at the official exchange rate (cross-rate) of the Central Bank of the Russian Federation on the date of such expenses.

Tax agent must transfer tax to the budget in the calculated amount, reducing accordingly the income of a foreign organization received in non-monetary form, if:

1. Income is paid to a foreign organization:

• in kind,
• other non-monetary form (including in the form of mutual offsets),

2. The amount of tax subject to withholding exceeds the amount of income of a foreign organization received in cash.

Note:Tax agents They have no right to pay tax on the income of a foreign organization using own funds.

This is the opinion of the Ministry of Finance in its Letter dated 30.09.2011. No. 03-08-05:

“As regards the question of the payment by a tax agent - a Russian organization of tax from its own funds, the following should be noted.

Article 24 of the Code imposes on the tax agent the obligation to correctly and timely calculate, withhold from the funds paid to taxpayers, and transfer the relevant taxes to the budget system of the Russian Federation.

According to Art. 8 of the Code, tax is understood as a mandatory, individually gratuitous payment. The obligation to pay tax is considered fulfilled by the taxpayer from the day the tax amounts are withheld by the tax agent, if the obligation to calculate and withhold tax from the taxpayer's funds is assigned to the tax agent in accordance with the Code (clause 5, clause 3, article 45 of the Code).

Thus, tax agents not entitled at its own expense to pay the amount of tax on the income of a foreign organization from sources in the Russian Federation instead of the taxpayer.

The tax agent is obliged to transfer the appropriate amount of tax not later the day following the day of payment (transfer) of funds to a foreign organization or other receipt of income by a foreign organization (clauses 2 and 4 of article 287 of the Tax Code of the Russian Federation).

When determining the tax base for income from sales:

• shares (stakes) of Russian organizations, more than 50% of whose assets consist of real estate located on the territory of the Russian Federation, as well as financial instruments derived from such shares (stakes) in accordance with subparagraph 5, paragraph 1, article 309 of the Tax Code of the Russian Federation.
• real estate located on the territory of the Russian Federation with subparagraph 6, paragraph 1, article 309 of the Tax Code of the Russian Federation,

from the amount of such income can be deducted expenses in the manner prescribed by Articles 268, 280 of this Code (clause 4 of Article 309 of the Tax Code of the Russian Federation).

The specified expenses of a foreign organization are taken into account when determining the tax base, if by the date of payment of these incomes, the tax agent withholding tax from such incomes in accordance with this article has documented data on such expenses submitted by this foreign organization.

In accordance with paragraph 6 of Article 309 of the Tax Code of the Russian Federation, if the founder or beneficiary under the trust management agreement is:

• a foreign organization that does not have a permanent representative office in the Russian Federation,
• and the trustee is:
• Russian organization,
• or a foreign organization operating through a permanent establishment in the Russian Federation,

then from the income of such a founder or beneficiary received under a trust management agreement, the tax is withheld and transferred to the budget trustee.

In the event that a tax agent pays income to a foreign organization that, in accordance with international treaties, is taxed in the Russian Federation (clause 3, article 310 of the Tax Code of the Russian Federation):

• at reduced rates

the calculation and withholding of the amount of income tax are carried out by the tax agent at the appropriate reduced rates given that presentation by a foreign organization to a tax agent of the confirmation provided for in paragraph 1 of Article 312 of the Tax Code of the Russian Federation.

The tax agent provides information on the amounts:

• income paid to foreign organizations,
• taxes withheld for the past reporting (tax) period

in the IFTS at its location, a tax calculation, in the form approved by Order of the Ministry of Taxation of the Russian Federation dated 14.04.2004. №SAE-3-23/ [email protected]"On Approval of the Form of Tax Calculation (Information) on the Amounts of Income Paid to Foreign Organizations and Taxes withheld".

Note:The tax reporting reflects the actually paid income of a foreign organization, regardless of the non-/withholding of tax when they are paid.

In accordance with paragraph 5 of Article 310 of the Tax Code of the Russian Federation, the specifics of the calculation and payment of tax on income received by a foreign organization from sources in the Russian Federation, withheld by a tax agent, established by Article 310 of the Tax Code of the Russian Federation, apply to the calculation and payment of tax by Russian organizations that are participants consolidated group of taxpayers and paying income to a foreign organization.

Calculation, withholding and transfer to the budget of the corresponding amounts of tax is carried out by organizations that are members of a consolidated group of taxpayers independently, without the participation of a responsible participant in a consolidated group of taxpayers (except for cases when such a responsible participant acts as a tax agent under the rules of this article).

WHEN YOU DO NOT HAVE TO WITHDRAW TAX

In accordance with the provisions of Article 310 of the Tax Code:

• Russian organizations,
• Representative offices of foreign organizations,

paying income to a foreign organization, with each payment of income received by a foreign organization from sources in the Russian Federation and taxable at the source of payment are required to calculate and withhold tax on such income.

The exception is the cases specified in paragraph 2 of Article 309 of the Tax Code of the Russian Federation, namely:

1) When the tax agent notified beneficiary of income that the paid income relates to the permanent establishment of the recipient of income in the Russian Federation.

At the same time, the tax agent must have a notarized copy of the certificate of registration of the recipient of income with the tax authorities, issued not earlier than in the previous tax year.

2) When in relation to income paid to a foreign organization, Article 284 of the Tax Code of the Russian Federation provides for a tax rate of 0%.

3) Cases of payment of income received in the performance of production sharing agreements, if the tax legislation of the Russian Federation provides for the exemption of such income from tax withholding.

4) Cases of payment of income, which, in accordance with international treaties(by agreements) not taxed tax in Russia.

Subject to the presentation by the foreign organization to the tax agent of the confirmation provided for in paragraph 1 of Article 312 of the Tax Code of the Russian Federation.

In the case of payment of income by Russian banks and the development bank - the state corporation for operations with foreign banks, confirmation of the fact of permanent location foreign bank in a state with which there is an international treaty (agreement) regulating taxation issues, is not required if such location is confirmed by information from publicly available information directories.

5) In case of payment of income to organizations that are foreign organizers of the XXII Olympic Winter Games and XI Paralympic Winter Games 2014 in Sochi.

6) Cases of payment of income related to the distribution of media products related to the XXII Olympic Winter Games and XI Paralympic Winter Games 2014 in Sochi, to official broadcasters.

7) Cases of payment of interest income:

• on government securities of the Russian Federation, government securities of constituent entities of the Russian Federation and municipal securities;
• paid by Russian organizations on tradable bonds issued by these organizations in accordance with the laws of foreign states.

8) Cases of payment by Russian organizations of interest income on debt obligations to foreign organizations when simultaneous fulfillment of the following conditions:

• Debt obligations of Russian organizations, on which interest income is paid, arose in connection with the placement of tradable bonds by foreign organizations.
• Foreign organizations to which interest income is paid on debt obligations, as of the date of payment of interest income, have a permanent location in the states with which the Russian Federation has valid agreements regulating issues of avoiding double taxation of income of organizations and individuals, and presented to the Russian organization paying interest income, confirmation provided for in clause 1 of article 312 of the Tax Code of the Russian Federation.

Taxation of personal income tax on trust management of securities

Currently, one of the ways to manage securities is to transfer them to trust management. Note that this type of relationship is very convenient if the owner himself does not have sufficient qualifications and competence to effectively manage his securities. In this case, he resorts to the help of a specialist - he trusts the management of securities.

In this article, we will talk about the features of personal income tax taxation of operations for the trust management of securities.

Legal regulation of trust management of property.

The legal framework for trust management of property is defined in Chapter 53 of the Civil Code of the Russian Federation (hereinafter referred to as the Civil Code of the Russian Federation).

According to paragraph 1 of Article 1012 of the Civil Code of the Russian Federation, under a property trust management agreement, one party (the founder of the management) transfers the property to the other party (the trustee) for a certain period of time in trust management, and the other party undertakes to manage this property in the interests of the founder of the management or the person specified by him ( beneficiary).

The founder of the management is the party that owns the property (or has property rights) and which transfers them (property and rights) to trust management.

Trustee - a party to whom property is transferred and who manages it in the interests of the founder of the management or the beneficiary. The trustee may be an individual entrepreneur or a commercial organization, with the exception of a unitary enterprise.

The law provides for another side of the relationship within the framework of trust management - this is the beneficiary, in whose interests the trust management is carried out. In the vast majority of cases, the founder of the management acts as a beneficiary.

The objects of trust management can be various types of property and property rights.

Moreover, in accordance with paragraph 2 of Article 1013 of the Civil Code of the Russian Federation, money cannot be independent objects of trust management, except for cases established by law. For example, the possibility of transferring funds into trust management for investing in securities is provided by Article 5 of the Federal Law of April 22, 1996 No. 39-FZ "On the Securities Market" (hereinafter - Law No. 39-FZ) and Article 5 of the Federal Law of 2 December 1990 No. 395-1 "On banks and banking activities".

Securities are a special type of property. According to Article 1025 of the Civil Code of the Russian Federation, the specifics of the trust management of securities are determined by law.

In accordance with Article 5 of Law No. 39-FZ, the activity of securities management is the activity of trust management of securities, funds intended for transactions with securities and (or) conclusion of agreements that are derivative financial instruments.

The procedure for carrying out securities management activities is determined by the Order of the FFMS of Russia No. 07-37/pz-n dated April 3, 2007 (hereinafter referred to as Procedure No. 07-37/pz-n).

Note that the requirements of this Procedure do not apply to the activities of asset management companies (clause 1.3 of Procedure No. 07-37/pz-n):

– investment reserves of joint-stock investment funds;

- mutual investment funds;

- means of pension savings;

– means of pension reserves of non-state pension funds;

- savings for housing for military personnel;

- mortgage coverage.

In addition, the said Procedure does not apply to securities management activities, if it is related exclusively to the exercise by the manager of rights under securities.

According to clause 2.1 of Procedure No. 07-37/pz-n, the manager has the right to accept in trust management and exercise trust management of the following objects of trust management:

– securities, including those received by the manager in the course of securities management activities;

– cash, including foreign currency, intended for investment in securities, including those received by the manager in the course of securities management activities.

The manager is entitled, in compliance with the requirements of the currency legislation, to accept in trust management and carry out trust management of foreign currency in the event that the relevant foreign currency is the subject of purchase / sale transactions at auctions organized by the currency exchange.

The manager is entitled to the remuneration provided for by the trust management agreement, as well as to reimbursement of the necessary expenses incurred by him in the course of managing securities in accordance with the legislation of the Russian Federation (clause 2.8 of Procedure No. 07-37/pz-n).

Clause 2.9 of Order No. 07-37/pz-n determines that the manager is obliged to separate the securities and funds of the founder of the management, which are in trust management, as well as received by the manager in the process of managing securities, from the property of the manager and the property of the founder of the management transferred to the manager in connection with their other activities.

To store funds held in trust management, as well as received by the manager in the process of managing securities, the manager is obliged to use a separate bank account.

In order to record the rights to securities held in trust management in the system of maintaining the register of securities holders, the manager opens a separate personal account (accounts) of the manager, and if the rights to securities are recorded in the depository, opens a separate account (accounts) of the manager's depo.

In accordance with paragraph 2.10 of Order No. 07-37/pz-n, one bank account of the manager may account for funds transferred to trust management by different founders of the management, as well as those received in the process of managing securities, provided that such a pooling of funds is provided trust management agreements concluded by the manager with such founders of management.

At the same time, the manager is obliged to ensure the maintenance of separate internal accounting of funds under each trust management agreement.

According to paragraph 2.11 of Order No. 07-37/pz-n, one personal account of the manager (depo account of the manager) may account for securities transferred to trust management by different founders of the management, as well as those received in the process of managing securities, provided that such a combination of securities securities are provided for by trust management agreements concluded by the manager with such founders of management.

At the same time, the manager is obliged to ensure that separate internal accounting of securities is maintained under each trust management agreement.

In addition, the manager is obliged to provide the founder of the department with a report on the activities of the securities manager, containing the information provided for by Procedure No. No. 07-37/pz-n).

In the event of a written request from the founder of the department, the manager is obliged, within a period not exceeding 10 working days from the date of receipt of the request, to provide the founder of the department with a Report on the date specified in the request, and if such a date is not indicated, on the date the request was received by the manager (clause 4.2 of Procedure No. 07 -37/pz-n).

The Report must contain information on all transactions made by the manager with the objects of trust management owned by the founder of management, as well as operations on the transfer to trust management by the founder of management and the return of objects of trust management to him, for the period of time calculated from the date on which the previous report was generated (the date of conclusion of the trust management agreement, if the Report was not issued), before the date of formation of the submitted report (the date specified in the written request of the founder of the management), as well as information on the objects of trust management owned by the founder of the management on the last day of the reporting period, and their estimated value (Clause 4.3 of Procedure No. 07-37/pz-n).

Personal income tax on trust

securities management

Features of determining the tax base, calculation and payment of tax on income from operations with securities are provided for in Article 214.1 of the Tax Code of the Russian Federation (hereinafter - the Tax Code of the Russian Federation).

Paragraph 4 of clause 7 of Article 214.1 of the Tax Code of the Russian Federation defines the features of recognition of income from operations with securities carried out by trustees.

Income from transactions with securities circulating and not circulating on the organized securities market, carried out by a trustee (except for a management company that carries out trust management of property constituting a unit investment fund) in favor of a beneficiary - an individual, are included in the income of the beneficiary from operations, listed in subparagraphs 1 - 4 of paragraph 1 of Article 214.1 of the Tax Code of the Russian Federation, respectively.

In accordance with paragraph 10 of Article 214.1 of the Tax Code of the Russian Federation, expenses on operations with securities are recognized as documented and actually incurred by the taxpayer expenses related to the acquisition, sale, storage and redemption of securities.

The tax base for transactions with securities carried out by a trustee is determined in the manner prescribed by paragraphs 6-15 of Article 214.1 of the Tax Code of the Russian Federation, taking into account the requirements of paragraph 17 of Article 214.1 of the Tax Code of the Russian Federation.

In accordance with paragraph 17 of Article 214.1 of the Tax Code of the Russian Federation, the amounts paid under the trust management agreement to the trustee in the form of remuneration and compensation for expenses incurred by him on transactions with securities are accounted for as expenses that reduce income from the relevant transactions (letter of the Ministry of Finance of Russia dated February 16, 2015 No. 03-04-06/6856). At the same time, if the founder of the trust management is not a beneficiary under the trust management agreement, then such expenses are accepted when calculating the financial result only from the beneficiary.

If the trust management agreement provides for several beneficiaries, then the distribution between them of income from operations with securities carried out by the trust manager in favor of the beneficiary is carried out based on the terms of the trust management agreement.

If, in the course of trust management, transactions are made with securities circulating and (or) not circulating on the organized securities market, as well as if other types of income arise in the process of trust management (including income in the form of dividends, interest) , the tax base is determined separately for transactions with securities circulating or not circulating on the organized securities market, and for each type of income, taking into account the provisions of Article 214.1 of the Tax Code of the Russian Federation. At the same time, expenses that cannot be directly attributed to a decrease in income from transactions with securities circulating or not circulating on the organized securities market, or to a decrease in the corresponding type of income, are distributed in proportion to the share of each type of income.

A negative financial result on individual transactions with securities carried out by a trustee in a tax period reduces the financial result on the totality of the corresponding transactions. In this case, the financial result is determined separately for transactions with securities circulating on the organized securities market and for transactions with securities not circulating on the organized securities market.

The tax base for transactions with securities, by virtue of paragraph 20 of Article 214.1 of the Tax Code of the Russian Federation, is determined by the tax agent at the end of the tax period, unless otherwise provided by the said article or Article 226.1 of the Tax Code of the Russian Federation, which contains a list of persons recognized as tax agents for trust management of securities.

The issue of the performance by a trustee of the functions of a tax agent for personal income tax when paying income on securities is considered in the letter of the Ministry of Finance of Russia dated March 13, 2015 No. 03-04-06 / 69529. The letter notes that, in accordance with subparagraph 2 of paragraph 2 of Article 226.1 of the Tax Code of the Russian Federation, a trustee in respect of income paid to a taxpayer on securities issued by Russian organizations, the rights to which are taken into account as of the date specified in the decision on the payment (declaration) of income, is recognized as a tax agent on securities, on the personal account or depo account of this trustee, if this trustee is a professional participant in the securities market as of the date of acquisition of the securities specified in this subparagraph.

By virtue of paragraph 7 of Article 226.1 of the Tax Code of the Russian Federation, the calculation and payment of the amount of tax is carried out by the tax agent when carrying out transactions with securities and transactions with financial instruments of futures transactions in the manner established by Chapter 23 of the Tax Code of the Russian Federation, within the following terms:

- at the end of the tax period;

- before the end of the tax period;

- until the expiration of the contract in favor of the individual.

In accordance with paragraph 5 of clause 7 of Article 226.1 of the Tax Code of the Russian Federation, the calculation and payment of the amount of tax in respect of income from securities is carried out by a tax agent when making payments of such income in favor of an individual in the manner established by this chapter of the Tax Code of the Russian Federation.

Based on the above provisions of Article 226.1 of the Tax Code of the Russian Federation, when paying income on securities, the amount of tax payable is calculated and withheld by the tax agent on the date of payment of such income.

According to paragraph 2 of clause 10 of Article 226.1 of the Tax Code of the Russian Federation, the payment of funds for the purposes of this article means the payment by a tax agent of cash to a taxpayer or a third party at the request of the taxpayer, as well as the transfer of funds to the bank account of the taxpayer or to the account of a third party at the request of the taxpayer.