More than ten percent of investors will not pay taxes on investment income

A woman calculates the tax cost of a debt loan on a calculator - RIA Novosti, 1920, 21.03.2023

“Post Bank”: no more than ten percent of depositors will pay taxes on income from investments

MOSCOW, March 21 – RIA Novosti. According to the Post, the need to pay taxes on deposit income by the end of 2023 will affect no more than 10% of depositors in Russia, and this will not have a significant impact on the savings behavior of Russians and the amount of funds collected. Bank supplies at the disposal of RIA Novosti.

In 2021, a new law was passed on the taxation of interest on bank deposits in Russia, the tax base for it began to be formed only in 2022, although in March last year Russian President Vladimir Putin signed a decree on which the payment will be made. Personal income tax on interest income from deposits in 2021-2022. However, the taxes to be collected on the deposit income that will occur in 2023 will have to be paid before December 2024.

“Until the end of 2023, Russians will for the first time pay taxes on income from deposits, savings and other accounts for which interest is accrued. According to Post Bank, the introduction of the tax will affect no more than 10% of revenues.” “It will not have a significant impact on depositors and their behavior and the volume of funds withdrawn.”

The bank said last year that the demand for deposit and savings accounts has risen sharply against the backdrop of an unstable economic situation. According to his forecasts, in 2023 the volume of funds in deposits and savings accounts of citizens will continue to increase: deposits have been and will continue to be the most stable and predictable way to save.

“The new tax will affect an insignificant part of depositors and will not have a significant impact on their behavior and the amount of funds collected. For example, according to our estimates, the taxation of Post Bank depositors, who will be subject to deposit income, will not exceed 5%. In addition, the methodology will have significant fluctuations in the rate of the Central Bank. the calculation will allow for tax minimization,” Post Bank notes.

Source: Ria


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