Russia has determined the parameters for calculating the tax on long-term deposits

The Ministry of Finance has determined the parameters for calculating the tax on long-term deposits. With amendments to the Tax Code got acquainted RBC.

In order for the deposit to be eligible for personal income tax benefits, its term must exceed 15 months, and interest on it must be paid at the end of the term. The rule will potentially apply to interest income on deposits received as early as 2024.

In March of this year, the Ministry of Finance proposed changing the procedure for calculating personal income tax on interest income on long-term deposits in such a way as to “eliminate tax injustice” for clients with long-term deposits. The idea was to give such depositors the opportunity to save a “non-combustible”, i.e. non-taxable amount that falls on one of the years before the deposit expires.

In April, the head of the Central Bank Elvira Nabiullina said that she supported the idea of ​​exempting long-term deposits from taxes. This should help popularize this type of investment. However, the Ministry of Finance refused to support this initiative.

Currently, the share of long-term ruble deposits in the total volume is about 2.5 percent.