Thursday, January 18, 2018

The Ministry of Finance clarified the idea to the taxation of deposits

The Ministry of Finance clarified the idea to the taxation of deposits

Ministry of Finance, not finding solution to the problem to make the bond market more attractive for citizens due to the release of coupon payments from taxes, decided to approach it from the reverse side, considered the possibility of taxation "rival" of the instrument.

Office as one of the options is considering the introduction of taxation of the deposit, the deputy Finance Minister Aleksey Moiseev during a lecture at the Financial University under the Russian government.

"As deposits have quite exceptional in the world tax deduction when people on deposits do not pay anything. That is, a person having a billion rubles on deposit, and such people there are quite a lot, they do not pay any taxes on the income from this deposit. So the more you can not do anywhere else, that is, a person buys a stock, there deductions from the microscopic point of view, a lot of money. The President said that it is necessary to abandon the bonds coupon tax. Until we figured out how to do it, is therefore seen as a working version of equalizing conditions and make everything worse, that is all the same to tax any part of the deposit, "- said the deputy minister.

He stressed that while the proposal is not enshrined in any of the bills, but "we think of it as one of the options."

Later, Moses explained that in practical terms the question at this point is not discussed.

In international practice, it is widely used taxation of large deposits. This is one of the options align tax treatment for different types of financial instruments. However, the Russian government at the moment this issue is not discussed, and the Ministry of Finance does not develop a bill on taxation of any depozitov.Aleksey Moiseev, Deputy Finance Minister

Earlier it was reported that the Finance Ministry sees the danger offers citizens for investment securities with high credit risk in the event of the release of natural persons from payment of personal income tax with a coupon yield under the bonds.

Currently, the coupon yield on corporate bonds is taxed at the rate of 13% for individuals. Discounts on state and municipal as well as regional bonds for individuals are not taxed. Gains on ruble deposits are subject to personal income tax only if the interest rate on the deposit exceeds the refinancing rate of the Central Bank of the Russian Federation increased by 10 percentage points.

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