Business · Economy · 10 hrs ago
Russia proposes new tax rules for bank deposit interest
A draft bill in Russia proposes new rules for taxing bank deposit interest.
The Finance Ministry estimates the change could affect about 6 million people, not counting their family members.
Under the current system, deposit interest is taxed separately from other income, at 13% or 15% depending on the amount earned.
Banks send interest information to the tax service, which calculates the tax and notifies depositors in September or October of the following year.
Depositors must pay by December 1 of the year after the interest was earned.
The bill would change the conditions for taxing this income, but the details of the proposed changes are not specified here.
Russia is proposing new personal income tax rules for interest earned on bank deposits.
The proposed changes to the Tax Code would affect about 6 million people, according to Finance Ministry calculations cited by Vedomosti.
The proposal concerns how interest income from deposits is taxed.
Under current rules, deposit interest is taxed separately at 13% or 15%, depending on the amount.
- Who
- The Russian government is proposing the changes. The Finance Ministry estimates about 6 million people would be affected.
- What
- New personal income tax rules for bank deposit interest are proposed.
- When
- The changes are discussed for 2027 in a source headline.
- Where
- Russia.
- Why
- Not stated
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This story does not have a timeline yet.
- Estimated people affected
- About 6 million
- Current tax rates
- 13% or 15%
- Current tax notice
- Sent in September or October of the following year
- Current payment deadline
- 1 December of the following year