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Taxation of shareholders

Taxation of dividends payable to individual shareholders depends on whether they hold resident status in Russia at the time of income payment. Dividend tax rate in 2021:

  • 13% for resident individuals
  • 15% for non-resident individuals


The Company pays dividends. How much will I receive?

Shareholders receive dividends net of personal income tax paid to the federal budget.

Are there any exceptions where personal income tax is not charged?

According to the applicable Russian tax laws, taxation of dividend income paid out by a legal entity is mandatory as personal income tax. There are no exceptions to these laws.

How is the personal income tax rate calculated?

The rate of personal income tax depends on the tax residency of shareholders.

There are two rates for shareholders residing in the Russian Federation: if the annual income of an individual is not more than RUB 5 m, the rate stands at 13%; if it exceeds RUB 5 m – at 15%.

For shareholders with residency in a foreign country, the basic rate of personal income tax is 15%. The rate may be reduced under a double taxation treaty between the Russian Federation and the country of residence of the respective shareholder.

For more information about tax residencies, see the Russian Federal Tax Service website.

Who charges and pays personal income tax?

Personal income tax is charged and paid by a tax agent. If the rights to shares are recorded in the register of the Company’s securities/shareholders, the Company itself acts as a tax agent. Otherwise, this role may be assumed by a trustee, a broker, or a depository.

If dividends are paid more than once a year, personal income tax is calculated on a cumulative basis offsetting the amount paid earlier.

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