The Ministry of Finance of the Russian Federation proposed changing the procedure for calculating taxes on deposits for more than one year. This was reported by RBC Referring to the relevant draft law on amendments to the Tax Code.
The changes could come into force in 2025 and will affect interest income from deposits for more than one year taken after January 1, 2024. RBC’s source in the government and the press service of the Ministry of Finance confirmed that the project was approved at the meeting of the government commission on legislative activities.
According to the changes, if the investor’s income in the current tax period is below the threshold amount of 1 million rubles. The difference resulting when multiplied by the Central Bank’s maximum rate may reduce the tax base to “zero” for subsequent periods. This will be possible if the interest income is not received “for the current tax period”. The rule will potentially apply to interest income from deposits received in 2024.
Earlier, Rossiyskaya Gazeta reported that the Central Bank, referring to the Deposit Insurance Agency (DIA) plans to increase attractiveness of long-term deposits and irrevocable savings certificates for citizens. It was announced that the possibility of increasing insurance coverage for such products to 2.8 million rubles is being evaluated. – twice the current limit of 1.4 million rubles.
Formerly in the State Duma in the name Reducing the tax burden of families with five children.