From the point of view of the Ministry of Finance, the deposit tax should become one of the stable sources of replenishment of the treasury in the medium term. It is no coincidence that in the draft budget presented by the government to the State Duma on September 30, the forecast of state revenues for this item increased almost 2.5 times compared to last year’s estimates, writes Nikolai Vavilov, a specialist in strategic research. department of the analytical company, in Perfil magazine.
In 2025, the revenue forecast increased from 104 billion to 251.5 billion rubles, in 2026 – from 107 billion to 262.1 billion rubles. In 2024, it is planned to collect personal income tax from owners of deposits and savings accounts in the amount of 108 billion rubles. The Federal Tax Service issued invoices for the interest that banks charged them last year. According to the Deposit Insurance Agency (DIA), as of January 1, 2023, Russians had about 44.86 trillion rubles in credit institutions, and as of January 1, 2024, about 50.7 trillion rubles.
According to DIA statistics, 263.3 million individual deposits were opened last year, of which only 3.6% amounted to 1 million rubles. and above. When the law was adopted, it was believed that it would only affect millionaire investors, who would have to pay personal income tax at a rate of 13% if the total annual income did not exceed 5 million rubles, and 15% for everything over the limit.
By the way, in March 2020, when the head of the Ministry of Finance Anton Siluanov demonstrated the usefulness and equity of innovation, in Russia there were 5.9 million deposits and current accounts in which people kept savings worth 1 million rubles or more. and above. At that time it was about 1% of the total. Thus, over the past four years, there have been almost 3.6 million more potential deposit tax payers among Russians.
Indeed, under certain circumstances, interest is accrued on a deposit of 1 million rubles or more. and above, you will not have to pay any personal income tax. On the contrary, the tax can be calculated on income from a term deposit of only 200-300 thousand rubles. Here everything depends on the deposit rate, the period for which it was opened, the frequency of interest calculation and the maximum key rate of the Central Bank in force in this tax period.
When calculating the tax, the funds placed in different banks, in all deposits and accounts are added, and all income received is added. Credit organizations automatically provide information to the Federal Tax Service. The data is quickly displayed in the taxpayer’s personal account; As a rule, they are available after February 1. This means that it is not difficult to check for yourself whether this fall you will have to pay personal income tax on deposits and reserve the necessary funds for this in advance.
Inspectors of the Federal Tax Service began to send notifications, electronic (information is displayed in the taxpayer’s personal account on the nalog.ru website) or, in the old fashioned way, on paper (the postman will leave a chain letter on your mailbox) in September. , but the line will be drawn on October 30. The deadline for paying tax on deposits is the same as for property taxes (for an apartment, garage, land plot, car), until December 1 inclusive.
A citizen can settle accounts with the State in several ways. In particular, pay the tax to the taxpayer’s personal account on the website of the Federal Tax Service; in your bank account; in the office of a commercial bank, which requires mandatory personal presence; in the mobile service “Pay taxes”; through a payment terminal. If the tax was calculated but not paid by December 1 of the current year, the offender will be punished with rubles.
In connection with the transition in 2023 to paying taxes through a single tax account, the rules for calculating fines and penalties, as well as the procedure for exemption from liability for tax debts, have changed. The concept of “total taxpayer liability” has been introduced, which is the total amount of all taxes, fees, contributions, advances, fines, etc. Non-payment or incomplete payment of a tax (rate, insurance premiums) implies a fine of 20% of the amount of the unpaid tax (collection, insurance premiums). So being forgetful or unnecessary today is more expensive in every way.
The tax amount for each year is calculated using the following formula: 1 million rubles. divided by 100 and multiplied by the maximum value of the key rate of the Central Bank, which was recorded during the reporting tax period from January 1 to December 1. As you know, in 2023 the highest key rate, 15% per annum, was recorded on December 1. Consequently, interest income, which is not subject to tax, amounts to 150 thousand rubles.
If the limit is exceeded, personal income tax will have to be paid for the difference. The tax balance of a millionaire investor cannot be described as astronomical. Let’s say that in 2023 2 million rubles were placed in deposits (bank deposits). at a rate of 10% (without reinvestment at compound interest). In this case, interest income at the end of last year amounted to 200 thousand rubles. Personal income tax of 13% will be charged only for 50 thousand rubles. As a result, annual income will decrease by 6.5 thousand rubles.
The maximum interest rate of the ten largest banks in Russia, according to the Central Bank, at the end of 2022 and January 2023 remained around 8%, from February to mid-July it fluctuated between 7.6-7.9 %, then it began to grow and reached 14.75% at the end of December. Therefore, if 1 million rubles. In December 2022, a citizen made a deposit for 12 months at 8% per annum, he was only able to earn about 80 thousand rubles. This is almost two times less than the personal income tax exempt limit.
Another important point. Income from deposits with an interest rate of 1% per year or less, regardless of the amount they contain, is not subject to income tax (most of these banking products are savings and payroll accounts). In addition, income from escrow accounts (special accounts for investors in the real estate market) is not subject to personal income tax.
You must pay taxes on income from bank deposits and foreign currency accounts, regardless of the interest rate. The amount of interest accrued will be recalculated from dollars, euros or yuan to rubles at the Central Bank exchange rate in force on the date of payment. If the foreign currency exchange rate has increased and the deposit in ruble equivalent has increased, then it is not necessary to pay personal income tax on the difference. Funds held in a foreign currency deposit are considered non-taxable property by law.
Tax on income from deposits and bank accounts is paid by everyone: both tax residents (persons who, regardless of their citizenship, spend at least 183 calendar days in Russia during 12 consecutive months) and tax non-residents (persons who, regardless of their citizenship, spend less than 183 calendar days in the country during 12 consecutive months). The same personal income tax rates apply to both.
Pensioners and disabled people have no benefits or preferences in this case. The initiative of the deputies of the State Duma, who at one time promoted this idea as a measure of social support, did not receive development. However, if you look closely, there is good news for beneficiaries who have large deposits. Even the unemployed were able to claim a social deduction from the personal income tax paid, thus partially offsetting the costs of treatment and medication.
