The tax on interest on deposits over 1 million rubles began to operate in Russia from January 1, 2022. The payment will be charged on income generated in 2021.
According to the law, personal income tax in the amount of 13% will be charged from the amount of interest on all deposits of a citizen in Russian banks in excess of 1 million rubles.
The calculation takes into account the rate of the Central Bank at the beginning of the tax period – January 1. With the Central Bank rate as of January 1, 2021, which was 4.25% per annum, the amount of withholding will be at least 42.5 thousand rubles (4.25% of 1 million).
On December 30, the head of the RF Ministry of Finance, Anton Siluanov, said that an increase in tax rates, including personal income tax, is not expected in Russia in the next three years.
The minister also said that the additional revenues of the Russian budget by the end of 2021 will amount to about 4 trillion rubles. According to him, during 2021, the authorities allocated money to support various social groups of citizens, and also directed funds for investments.
On November 30, Russian President Vladimir Putin pointed out the need to work out the issue of deducting personal income tax for Russians who invest in securities for a long time.
According to him, the Russian stock market is actively attracting funds from citizens. Over the nine months of this year, the volume of their investments has grown by more than a quarter. This resource, Putin pointed out, should become a serious source of financing for investment projects, but also work for the citizens themselves.
#Interest #deposits #exceeding #million #rubles #taxable