Russia to Send Tax Notifications on Deposit Income from Sep 21
Moscow, September 9. The Federal Tax Service of Russia will begin using a new order for sending notifications regarding income tax on deposits starting September 21, according to the Russian newspaper citing a letter from the FTS and expert explanations.
Consensus
- The Federal Tax Service (FNS) will begin sending notifications about income tax on bank deposits starting September 21.
- Notifications will be sent electronically to the personal accounts on the 'Gosuslugi' portal and the FNS website.
- If electronic delivery is not possible, notifications will be sent by registered mail.
- Individuals do not need to submit a 3-NDFl tax declaration, as the FNS will calculate taxes automatically based on data provided by banks.
- Tax is applied only to interest income from deposits, not the principal amount.
- The tax is calculated by summing all interest income from deposits and savings accounts across all banks, subtracting a non-taxable limit, and issuing a single notification with the final amount.
- The non-taxable limit for 2025 is 210,000 rubles, based on the maximum key rate of 21% in that year.
- If interest income exceeds the non-taxable limit, only the excess is taxed at 13% or 15%, depending on total investment income.
- Investment income from deposits is officially classified as investment income and not combined with the main tax base starting in 2025.
- The Ministry of Finance expects the tax on deposit interest to generate 567.6 billion rubles for the budget in 2026.
Points of divergence
- The tax notification is for the 2025 tax year, and payment is due by December 1. — vm
- Starting July 1, 2027, the FNS will gain access to data on all balances, transfers, and devices used by citizens with the digital ruble, including bank statements, transaction records, and device information. — tg_mosguru
- The FNS will use a new notification system starting September 21, with no need for individuals to file a declaration. — vesti
Coverage (4 sources)
- Experts explain how the tax service will notify Russians about taxes on deposits — Вести
- FNS: Russians will start receiving notifications about tax on deposits from September 21 — Вечерняя Москва
- In the next year, the tax authority will be able to see all balances, transfers and devices of Russians with the digital ruble. — Первый Московский
- In Russia, a federal registry of shell taxpayers will appear — Москва 24