The mechanism for calculating tax on deposits was explained to Russians

In Russia, one million rubles at the maximum discount rate for a calendar year are subject to exclusion from taxation on deposits. Oksana Ulanova, a consultant at the National Center for Financial Literacy, spoke about this. She was quoted by the radio station “Moscow Speaks”.

According to her, if we are talking about 2025, then this is 21 percent. This means that 210,000 rubles received by a Russian are excluded from taxation.

“The remaining amount of 2 million 400 thousand and less is charged at a rate of 13 percent, and above - 15 percent,” she clarified.

According to Ulanova, if a person received 300,000, he will have to pay tax on 90 thousand at a rate of 13 percent. If the deposit managed to earn three million rubles in a year, then 210,000 are subtracted from them (that is, a tax-free million rubles) and the tax is calculated from this amount.

“Of this, 2 million 400 thousand will be taxed at a rate of 13 percent, and only 390,000 at a rate of 15 percent,” Ulanova said.

She explained the latter by the fact that Russia has a progressive taxation scale.

According to Deputy Head of the Bank of Russia Alexei Zabotkin, freezing bank deposits of Russians cannot be possible under any circumstances. He called such a development of events absurd.