the Size of this non-taxable income depends on the key rate as at 1 January of the respective year (of 6.25% if the tax calculated for the year 2020), it represents the average interest income for the year contributions in the amount of 1 million rubles. In the current environment of non-taxable income amounted to about 60 thousand rubles, explains the Finance Ministry.
an Example of the calculation of the tax on ruble deposits
Suppose the individuals within 2021 was three annual Deposit in three banks:
the Central Bank will publish data on the restrictions on banks to attract deposits
Bank, 1: 500 thousand rubles under 4.5%, interest is paid at the end of the term of the Deposit – December 1, 2021;
pot 2: 1 million rubles under 5%, interest paid at the end of the term of the Deposit – December 31, 2021;
Bank 3: 500 thousand roubles at 4%, interest paid at the end of the term of the Deposit – December 1, 2022.
In Bank 1 an individual 1 Dec 2021 received interest on 22.5 thousand rubles, Bank 2 – December 31, 2021 in the amount of 50 thousand roubles, and in Bank 3 interest income in 2021 was not, as the Deposit is completed in 2022.
Thus, the cumulative interest income earned on deposits in the Russian banks paid individual in 2021, will amount to 72.5 thousand rubles.
Assume that the key rate of the Bank of Russia on January 1, 2021 is 6%, then non-taxable interest income in 2021 will amount to 60 thousand rubles.
as a result of such individual the amount of tax payable will be: (72 500 p. – 60 000 p) x 13% = 1 625 R.
Russia has notified the Cyprus in connection with the introduction of a “tax on dividends”
Income on low-interest accounts – not included
in calculating interest income would not be take into account the income on ruble accounts opened at less than 1%. Thus, based completely excluded payroll accounts, the rate of which does not exceed 1%. The income on these accounts low-interest tax will not be taxed, emphasizes the Finance Ministry.
the Exchange differences not subject to taxation
Also not subject to tax income from exchange rate differences on deposits in foreign currency. If at the beginning of year the ruble value of dollar deposits amounted to 2 million rubles, and at the end of the year due to the weakening of the national currency – RUB 2.5 million, income from exchange rate differences in the amount of 0.5 million rubles of the tax to pay would not have to.
Banks will report it to the IRS on clients ‘ funds in electronic wallets
the Interest on foreign currency deposits for tax calculation will be recalculated in rubles at the official rate of the Bank of Russia on the date of actual receipt of income.
When you start to act tax
for the First time the tax will have to pay for 2021 – tax notices will come in 2022, will need to pay before 1 December. “We emphasize that this measure will not affect interest earned on deposits in the current, 2020,” explains the Ministry of Finance.
How to pay taxes
to Calculate the tax are the bodies of Federal tax service on the basis of the information banks. Investors will receive tax notice after the end of the calendar year in which the interest income. To file tax returns in connection with the receipt of interest income on deposits is not required.