Tax rate:

	13% - tax for residents of the Russian Federation;
	30% - tax for persons not taxed by the Russian Federations

(Item 224 of the Tax Code of the Russian Federation).

The profit/loss of purchase or redemption of mutual funds' shares is defined as a difference between the sum of the incomes received from the repayment of shares and the documentary confirmed expenses for their purchase, redemption and keeping actually incurred by a private individual. In the case of absence of any expenses mentioned above, property-related tax deductions act as elements deducting the shareholder’s income, in order to calculate his profit or loss.

	the sums paid for purchasing shares (including entry fees).
	the expenses related to the purchase, redemption and keeping of mutual fund’s shares incurred for services provided by professional securities market participants within the limits of their professional work.

The Asset Management Company accepts actual expenditures in reducing the sums of income received for calculating shareholder’s profit or loss on the information contained in the mutual fund’s share register. Providing any documents by shareholder to confirm his expenditures is not required.

According to Russia’s tax regulations, DOHOD Asset Management Company acts as tax agent for private individual customers, i.e. assesses the amount of personal income tax at redemption of shares, subtracts it and transfers into budget.

The tax sum is calculated and paid at the end of a tax period or at the redemption of mutual funds' shares by shareholder and payment to him if he redeems his shares before the end of a tax period.

At the end of a tax period, the Asset Management Company issues each customer a private individual statement on the personal income tax.

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