The government wants to abolish the tax on interest on deposits from 1 million rubles

The Cabinet of Ministers proposed to exempt Russians from paying income tax on interest on bank deposits that exceed 1 million rubles. It is reported by RIA Novosti-Krym with reference to the words of Russian Prime Minister Mikhail Mishustin.

According to the official, the tax was introduced from January 2021. It was assumed that a part of the income from such deposits should be taxed at 13%, regardless of whether the funds were placed in one bank or in several.

Mishustin clarified that after raising the key rate, banks have significantly increased interest on deposits, therefore, their income will increase, and the amount of tax that needs to be paid this year. According to the official, the abolition of income tax not only for the past, but also for the current year, will support the Russians and help them save their savings.

Earlier, the head of the Russian government promised that the threshold for the cost of a car, for which a luxury tax would be levied, would be raised from 3 million to 10 million rubles. In addition, the Prime Minister said that in order to reduce the sanctions risks of financial organizations, the Board of Directors of the Central Bank will be empowered to determine the list of information that can not be disclosed to the public.

Recall that on March 9, Russian President Vladimir Putin signed a law abolishing VAT on investment gold for individuals. The corresponding document signed by the head of state was published on the website of the official portal of legal information.

Previously, this tax amounted to 20% of transactions for the sale by banks to individuals of precious metals in ingots withdrawn from vaults.