As RIA Novosti writes, from January 1, 2021, a tax on income of individuals at a rate of 13% is imposed on the income of Russians on deposits.
Taxation includes the aggregate interest income on deposits with Russian banks, which are paid to an individual for the year.
From this amount, non-taxable interest income is deducted, the calculation of which is carried out as the product of 1 million rubles.
and the key rate of the Central Bank set for January 1 of this year.
At its last meeting in 2021, the Bank of Russia raised its key rate from 7.5% to 8.5% per annum.
The Central Bank explained this decision by the need to curb inflation.
Russian banks intend to increase interest rates on their products following the increase in the key rate of the Central Bank.