The State Duma freed from the personal income tax personal income on deposits at a rate of up to 18.25% – Kommersant

The State Duma freed from the personal income tax personal income on deposits at a rate of up to 18.25% – Kommersant

                             
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State Duma adopted in the second and third reading of a bill amending the Tax Code, according to which the income of citizens of Russia on ruble deposits with a rate of up to 18.25% per annum are exempt from paying personal income tax.

According to the Tax Code, you must pay tax on the difference between rates on deposits and refinancing plus 5 percentage points

In view of the amendments of the Central Bank refinancing rate at 8.25% increased by 10 percentage points in the period from 15 December 2014 to 31 December 2015 in respect of interest income received by taxpayers on deposits in banks in Russia, according to “RIA Novosti».