Russia’s Finance Ministry Wants to Tax Eurobonds, Vedomosti Says

Russia’s Finance Ministry has proposed taxing interest payments for Eurobond coupon payments, Vedomosti reported, citing a letter from Deputy Minister Sergei Shatalov to the Federal Tax Service.

Shatalov said Russian companies that issue Eurobonds via special investment vehicles abroad should be subject to the country’s profit tax, according to the Moscow-based newspaper. The tax could be as much as 20 percent of Eurobond coupon payments, Vedomosti said, citing an unidentified investment banker.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

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