Tax base for operations involving the lending of securities – definition and meaning of "Tax base for operations involving the lending of securities"

The tax base for operations involving the lending of securities is determined as the income in the form of interest received during the tax period under all loan agreements where the taxpayer acts as a creditor, reduced by the amount of expenses in the form of interest paid during the tax period under all loan agreements where the taxpayer acts as a borrower, taking into account the provisions of the second paragraph of this subsection¹.

Federal Law No. 281-FZ dated November 25, 2009, "On Amending Part One and Two of the Russian Tax Code and Certain Legislative Acts of the Russian Federation" dated November 25, 2009, as amended on July 4, 2016, Article 2, paragraph 5#3 // Official Gazette of the Russian Federation. 2009. No. 48. Page 5731. ↩