The Accounts Chamber of the Russian Federation did not back the proposal from LDPR deputies to broaden the tax benefits on citizens’ bank deposits. The newspaper News, citing the chamber’s official result, relays this decision.
The document emphasizes the need to steer clear of choices that could widen the budget deficit when revenues are shrinking, arguing that such steps would undermine the government’s ability to finance state expenditures. This stance reflects concerns about fiscal sustainability and the balance between supporting savers and maintaining essential public spending.
Since the 2020 introduction of the tax, Russia has operated under a temporary 13 percent personal income tax on interest income from deposits above a specified threshold. Currently, the threshold stands at 1.6 million rubles, assuming the Central Bank does not raise rates again. Socialbites.ca notes this benchmark as the current limit. In 2024, citizens faced a requirement to pay the full tax for 2023, underscoring the ongoing evolution of the taxation framework for savers.
According to the Accounting Chamber, authorities project collecting about 312 billion rubles from the so-called deposit tax over the next three years. Such projections imply a greater burden on ordinary people and larger households, who shoulder a portion of the new levy through their savings. The figures signal a continued reassessment of tax policy in relation to household finances and end-user costs.
Earlier, the Federal Tax Service disclosed that Blinovskaya’s account showed nearly one and a half billion rubles, a disclosure that fed public attention on the taxation and regulatory environment surrounding deposits. This development has contributed to the broader discussion about how tax rules are enforced and how they affect individual financial behavior.
Previously at ECB warnings were issued about the risks linked to frozen Russian assets. The caution from this international body highlights the broader geopolitical and financial considerations surrounding asset management and the potential implications for fiscal policy and liquidity in the economy.