This was reported by RIA Novosti.

The minister explained that the tax will be levied only on interest received by depositors, including from ruble or foreign currency accounts with banks and from investments in bonds.

Siluanov explained that the tax will not affect changes in the deposit amount caused by fluctuations in exchange rates.

According to him, for deposits in foreign currency, the interest amount will be recalculated at the rate of the Bank of Russia for each day separately.

Siluanov also noted that the tax on interest income will be levied only on deposits whose amount will exceed 1 million rubles. He noted that the tax will begin to be levied on income for 2021, and the Russians will receive the first notice of the payment of this tax only in 2022.

On March 25, Russian President Vladimir Putin, in an appeal to the Russians, proposed introducing a 13% tax on income on deposits and securities if the total amount of such assets of a citizen exceeds 1 million rubles.