Russia’s Ministry of Finance issued Guidance Letter No. 03-03-06/1/47293, clarifying how to calculate the percentage of Russian immovable property within a legal entity’s assets when assessing eligibility for the 0% tax rate on gains from the sale of shares.
This 0% tax rate will be applicable when shares in a legal entity are held for at least five years and at least 50% of the entity’s assets comprise directly or indirectly immovable property in Russia.
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