Gref supported the initiative to reduce the minimum period for IIS-3

The head of Sbera German Gref supported the initiative to reduce the minimum period of ownership of IIS-3. This was stated by the head of “Sbera” at the forum “Real Future”, organized by “SberInvestments”. His words are reported by the correspondent of RBC Investments.

From 2027, the minimum period of ownership of IIS-3 should be increased annually from five years per year, eventually reaching ten years by 2031.

I very much support the initiatives put forward by the Association and many institutions to reduce the time limit from five to three years. I think that would greatly increase the investment attractiveness of the IIS, he said.

The head of Sbera stressed that IIS-3 can become a good tool for most retail investors to save on taxes.

Earlier, NAUFOR, as well as three investor associations (AIRI, ABO, IPA) sent to the Ministry of Finance a number of proposals for the completion of individual investment accounts, including proposals to reduce the timing of IIS-3.

So, NAUFOR proposed the Ministry of Finance the following measures:

Reduce the minimum period of IIS-3 to three years for investors contributing to IIS to ы1 million per year, or retain the right of such investors to receive deductions for contributions when closing IIS after three years from the date of its opening. Allow to credit to the bank accounts of investors coupons on bonds and periodic payments on investment shares, which are accounted for by IIS (similar to dividends). Provide an opportunity to partially withdraw funds from IIS (up to 50%) with the obligation to return them to the account within one year without losing tax benefits. Introduce the possibility for professional participants and management companies to account for their contributions to the IIS guarantee system as part of expenses that reduce the tax base for corporate income tax. Provide an opportunity to open and maintain IIS management companies not only open mutual funds, but also closed and interval mutual funds.

Among the proposals of AIRI, AVO and IPA:

Introduce a step-by-step incentive model: basic tax benefits are provided with a shorter term, and additional benefits are provided with longer withholding funds. Maintain the IIS-3 base period of ownership to obtain tax benefits at a level comparable to earlier account types (three years). Ability to withdraw coupon payments to an external bank account. This will give investors the opportunity not to close IIS-3 in stressful situations.

According to the Central Bank, the total amount of assets on IIS in the second quarter reached 993 billion. A total of 6.6 million such accounts were opened at the end of the first half of the year.