British tax service revokes Moscow Exchange’s recognized status

LONDON, May 5 (PRIME) -- Her Majesty's Revenue and Customs (HMRC), the British tax service, has revoked the Moscow Exchange’s status of a recognized bourse, the service said in a statement on Thursday.

“From May 5, 2022, the designation of the Moscow Exchange (formerly MICEX Stock Exchange) as a recognized stock exchange has been revoked,” the statement read.

The status of a recognized stock exchange allows the securities on these exchanges to use tax preferences. Any investment done on the Moscow Exchange after Thursday will not be considered as an investment done on a recognized stock exchange, while investment done before Thursday will still be eligible for the tax preferences.

The Moscow Exchange was recognized by the HMRC on January 5, 2011.

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