The Federal Tax Service (FTS) of Russia has begun sending notifications to Russians about the need to pay tax on interest income on deposits for 2023. This tax is being levied for the first time, and it must be paid by December 1, 2024.
The notifications contain information about banks, deposits, the amount of interest accrued, as well as the taxable base from which the tax is calculated, RBC reports.
The tax on deposits applies to those citizens whose interest income on deposits in 2023 exceeded the non-taxable amount of 150 thousand rubles. The tax rate is 13% (or 15% for individuals with an annual income of more than 5 million rubles). If the interest income is below the specified threshold, you do not need to pay tax.
This tax was introduced in Russia in 2021, but its application was postponed, and it is being levied for the first time on income received in 2023.
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