Russians to pay four new taxes

Russians will have to pay four new taxes in 2022, mostly concerning their incomes from bank deposits.

Nina Zotina | RIAN
Nina Zotina | RIAN

Holders of ruble-denominated bank deposits will pay a 13% tax on the income earned if it exceeds the Central Bank key rate as of the beginning of the year.

As the business news agency reported with reference to the Consultant Plus website, the tax novelties will also include a tax on the interest earned on foreign currency deposits, in dollars, euros, and others. It will be administered using the same plan as for the deposits in rubles.

Interest on senior citizens’ deposits will also become taxable in 2022. Unlike in previous years, pensioners will have to pay income tax on their bank deposits. The State Duma has not passed a law exempting them from this tax.

The fourth novelty is a tax on deposits that were not inherited.

Invest Foresight previously reported that the State Duma had proposed raising income tax, possibly increasing the personal income tax rate for wealthy Russians.

Previous ArticleNext Article