MOSCOW, March 31. /TASS/. The Russian authorities will withdraw tax on gains from bank deposits worth more than 1 million rubles ($13,000), if the deposit percentage amount exceeds 60,000 rubles ($770), Prime Minister Mikhail Mishustin said at a meeting on economic issues on Tuesday.
"The tax will not apply to deposits as such, it concerns only interest income on them, and the first 60,000 rubles of interest income will not be taxed," Mishustin said.
He stressed that only amounts exceeding this level are subject to tax.
The Prime Minister also assured that interest from salary accounts of citizens will not be taxed. "Current bank accounts, the rate on which does not exceed 1%, in particular, salary accounts of citizens, are generally excluded from the calculation of taxes," he stated.
The head of government recalled that Russians would start paying this tax only in 2022.
According to him, this measure is not driven by the current economic situation, but by the need to ensure stability of the financial and economic budget system of the country in the long term.
"I stress that the tax will only affect income that will be received in 2021, and the tax itself will be payable only in 2022. This year, there is no need to pay tax on such income," Mishustin reiterated.
Earlier this month, Finance Minister Anton Siluanov said that withholding of the tax on gains from bank deposits amounting to more than 1 million rubles ($13,000) is due from 2022 for gains received in 2021.