Personal income tax receipts on deposits may grow to a trillion rubles by 2027

Personal income tax revenues from income in the form of interest on deposits may increase in 2027 to a trillion rubles from the expected 632 billion in 2026. Interfax writes about the significant increase in the corresponding planned indicators with reference to the explanatory note to the draft of the country's main financial document.

Russians began paying tax on interest income on bank deposits from 2024 based on the results of 2023.

Earlier, the Ministry of Finance proposed revising the rates for so-called passive income, namely income from dividends and other equity participation, interest on deposits over a million rubles, transactions with securities and digital rights, from the sale of property and sale of participation shares, under insurance and gift agreements, which are now taxed at a reduced rate of 13-15 percent. Now it is planned that they will be included in the main tax base at a rate of 13-22 percent, after which, the department noted, the tax rate will depend on the amount of income, and not on the method and source of its receipt, which corresponds to “the goal of introducing a progressive personal income tax scale.”