Frequently Asked Questions
How are shareholders notified of a shareholders’ meeting? Shareholders are notified via the websites of:
The notice remains posted at least until the date of the session. Where can shareholders find materials for the forthcoming session of the Shareholders’ Assembly? Materials for the forthcoming session of the Shareholders’ Assembly are available:
Is absentee voting allowed? Any shareholder entitled to vote at a session of the Shareholders’ Assembly may do so in absentia. Completed absentee ballots (voting forms) should be delivered in person, via courier or by registered mail to the Company’s address: JSC Tigar, Nikole Pašića 213, 18000 Pirot, Serbia, attn. Company Secretary, and received by the Company not later than 3 business days prior to the session. If the shareholder has appointed a proxy to vote on their behalf, the proxy is required to present a power of attorney along with the voting form. Which taxes apply to stock trading? Any individual who disposes of the Company’s shares is required to pay: a) a title transfer tax, and b) a capital gain tax. Title Transfer Tax: a) Rate: 0.3% b) Basis: Value of shares sold c) Tax payer: Seller d) Method of payment: The Central Registry/Securities Repository and Clearing House withholds this tax (0.3%) and charges a service fee of 0.05%. Both are deducted from the proceeds. Capital Gain Tax: a) Rate: 20% b) Basis: Difference between purchase price and selling price. c) Tax payer: Seller d) Reporting of tax liability: The seller is required to report their tax liability within 15 days of the sale, by submitting: 1) completed form PPDG-3; 2) copy of a document that attests to the sale, such as: a. the contract of sale or certificate of subscription issued by the issuer of the securities, or b. a confirmation of sale issued by the stockbroker (depending on the method of acquisition); 3) copy of identity document. Any legal entity that disposes of the Company’s shares is required to pay: a) a title transfer tax, and b) a capital gain tax Title Transfer Tax: a) Rate: 0.3% b) Basis: Value of shares sold c) Tax payer: Seller d) Method of payment: The Central Registry/Securities Repository and Clearing House withholds this tax (0.3%) and charges a service fee of 0.05%. Both are deducted from the proceeds. Capital Gain Tax Reported in the tax return of the legal entity at the end of the financial year and paid in accordance with the Corporate Income Tax Law. Inter-governmental double taxation avoidance agreements may apply to non-residents. What should a shareholder do if the proceeds from a completed sale have not reached their account within seven days? The shareholder should contact the stockbroker. The broker will then contact the bank, determine the reason for non-payment and find a proper solution. Why is there a notification on the Belgrade Stock saying that there is a discrepancy between the number of shares listed and the number of shares registered in the Central Securities Depository and Clearing House and what does it mean? In accordance with the valid PpRP of Tigar AD, in late 2016 and early 2017, shares were issued based on the conversion of debt into equity and were recorded in CSD and Clearing House. Newly-issued shares are not included in trading, leading to inconsistency between the number of shares listed in trading and the number of shares registered in the Central Securities Depository and Clearing House, and for this reason a notification is posted on the website of the Belgrade Stock Exchange. |