HMRC no longer recognizes Moscow Exchange

The UK HM Revenue & Customs (HMRC) has revoked the Moscow Stock Exchange’s (MOEX) status as a recognized stock exchange, Report informs citing TASS.

Investments made on MOEX before this date will continue to be considered investments on a recognized stock exchange. Investments made after May 5 will not be considered as such, the document says.

The deprivation of status means that UK investors trading securities on the Moscow Exchange will not be able to enjoy some of the tax benefits that the management provided to them.