The Ministry of Finance of the Russian Federation considering the introduction of a tax on a portion of the deposits of citizens. This measure is seen, in particular, as an alternative to tax exemption coupons on the bonds. The situation, when people are “in principle not pay deposits by nothing”, absolutely exceptional for the world of practice, said Deputy Minister Alexei Moiseev, reports TASS.
“Man, having a billion rubles on Deposit, and there are such people, and pretty much pays no income taxes of their deposits. So more to do nowhere else,” – said the Deputy head of the Ministry of Finance.
Moses noted that the possible introduction of taxation of deposits is considered as an alternative to tax exemption coupons on the bonds. In December 2015, Russian President Vladimir Putin in his annual address to the Federal Assembly proposed to exempt from taxation the interest on the bonds.
When you release the coupon payments from taxes to holders of bonds wouldn’t have had to pay the state of income earned. As said Moiseev, the Ministry of Finance still has not figured out how to do it. “It is therefore considered as work in progress equalization of conditions through the “make everything worse” that is all the same to tax any part of the Deposit”, – explained the representative of the Ministry of Finance.
At the same time, Moses said that we are not talking about the presence of “any bill that is put on paper”. “But we think of it as one of the options,” he admitted. Taxation of large deposits widely used in international practice, said Moses, noting that the government this question is not discussed, and the Finance Ministry the bill is still not developing.
Previously, the Finance Ministry raised a related issue – the rejection of the tax on the coupon income, which is levied on income from investments in complex financial instruments, e.g. bonds. The Ministry of Finance then proposed to abandon the levying of this tax on individuals, like journalists.
In a press-service of the Central Bank announced that the issue of tax policy is the prerogative of the Ministry of Finance, says RBC. “The Bank of Russia will formulate its position after examining the proposals of the Ministry of Finance”, – said journalists the representative of the regulator.
As of 1 October, the volume of retail deposits was of 23.23 trillion rubles. The volume of deposits decreased in July in ruble terms by 0.2% (taking into account the revaluation index rose 0.5 percent). Overall for the first nine months of this year the volume of deposits grew by 0.4% (excluding revaluation – 4.4%).
According to the materials of the Central Bank, the number of investors in Russia is about 45 million people. Number of holders of term deposits 10 thousand rubles are estimated at 25 million people (17% of the population) and account for 99% of all deposits. Practically, the dynamics of the Deposit market is completely determined by less than 20% of the population.