MOSCOW, April 26 The tax on income from deposits for 2023 will not affect all depositors, Associate Professor of the Department of State and Municipal Finance of the Russian University of Economics named after. G.V. Plekhanova Ravil Akhmadeev.
From January 1 this year, the following procedure for taxing personal income tax on deposits in banks was introduced: interest income on them is reduced by an amount of interest equal to multiplying one million rubles by the maximum value of the Bank of Russia rate on the first day of the month during the year .
For example, there is a deposit in the amount of 1.4 million rubles at ten percent per annum. It accrued interest of 140 thousand rubles. The maximum key rate this year was 7.5 percent. Therefore, 75 thousand rubles are not taxed. On the rest of the amount, you will have to pay a tax at a rate of 13 percent — this is 8,450 rubles.
Do not forget that there is a progressive scale for personal income tax: total income of more than five million rubles a year is taxed at an increased rate of 15 percent. The tax authority will calculate the amount payable independently and send a notification to the citizen before December 1, 2024, Akhmadeev concluded.