This will let UK investors to obtain certain tax benefits
AIX (Astana International Exchange) informs that on January 25, 2019 United Kingdom’s HM Revenue & Customs (HMRC) granted AIX with ‘recognised stock exchange’ status under section 1005 Income Tax Act 2007. This status enables holders of securities listed on AIX to take advantage of certain favourable treatment under the UK tax laws subject to their individual circumstances and conditions applicable under such laws.
AIX’s CEO Tim Bennett commented:
«Obtaining the status of a recognised stock exchange from the UK HM Revenue & Customs is another argument for foreign, in this case British investors, why they should choose AIX as a centre of investment in the Central Asian region. At the same time, we are working to attract the interest of Kazakhstani investors in the projects of domestic business, so that entrepreneurs could raise capital for development in stock market which is more favourable than bank loans».
Currently, AIX is the only stock exchange in Central Asia that received a recognition from HMRC. The full list of recognised stock exchanges can be found through the following link on HMRC website.
Reference:
AIX. Astana International Exchange (AIX) was formed in 2017 as part of the development of the Astana International Financial Centre, AIFC. On the 14th November 2018, the first trading session on AIX has been launched by the President of the Republic of Kazakhstan Nursultan Nazarbayev. AIX’s shareholders include AIFC, Goldman Sachs, Shanghai Stock Exchange, the Silk Road Fund and NASDAQ, which also provides AIXs trading platform. www.aix.kz
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz
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