Bloomberg Tax
March 26, 2020, 2:58 PM

Russia to Tax Deposits Over 1m Rubles Starting 2021: Siluanov

Anna Andrianova
Anna Andrianova
Bloomberg News

Russia will start taxing incomes on deposits and debt investnments worth more than 1 million rubles starting next year, meaning the budget will see revenue in 2022, Finance Minister Anton Siluanov says.

  • Change in deposit amounts due to currency volatility won’t be taxed. For FX deposits, the tax service will calculate income based official daily FX rate.
  • NOTE: Putin’s Virus Stimulus Comes With a Tax on Rich Russians

To contact the reporter on this story:
Anya Andrianova in Moscow at

To contact the editors responsible for this story:
Gregory L. White at

Natasha Doff

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