Salary accounts of citizens in banks will not be subject to taxes on the interest
Source: Medium

Photo: depositphotos/mizar_219842

Interest from payroll accounts of citizens will not be taxed, said the Prime Minister of the Russian Federation Mikhail Mishustin during a meeting on economic issues.

He explained that the current Bank account, the rate of which does not exceed 1%, generally excluded from the tax calculation, reports TASS.

on March 31, the state Duma adopted a law under which personal income tax at a rate of 13% will be levied on the total annual income of physical persons for deposits over one million rubles.

the Chairman of the Duma Committee on budget and taxes Andrey Makarov said that the tax deposits and the interest earned on these deposits. This is true not of all deposits, but only those that exceed 1 million rubles.

He added that this measure introduces a tax base that will occur in 2023, therefore, the payments as such can only start in 2023.

March 25, Vladimir Putin, in a televised address announced plans to impose a 13 percent tax on interest from deposits to one million rubles. In addition, there will be a 15 percent tax on output abroad dividends and interest.

In the state Duma later clarified that the tax to incomes of physical persons (NDFL) at a rate of 13% will be levied on the amount of interest income on deposits that exceed the interest from one million rubles on the key rate of the Central Bank. If the current key rate of the Bank of Russia of 6% will not be taxable income from deposits amounting to 60 thousand rubles per year. Also the tax will not be levied on deposits at a rate of less than 1%, and escrow accounts.

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