The Finance Ministry is considering taxation of deposits, said Deputy Minister Alexey Moiseev at a lecture at the Financial University. He said the situation where people “basically do not pay deposits by nothing”, absolutely exceptional for the world of practice, reports TASS.
“Man, having a billion rubles on Deposit, and there are such people and they pretty much pay no income taxes of their deposits. So to do more is unacceptable”, — said the Deputy head of the Ministry of Finance.
He recalled that President Vladimir Putin called for repealing taxes on the coupons on the bonds. Then the holders of bonds wouldn’t have had to pay the state of income earned. In recognition of Moses, the Ministry of Finance has 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”, — said Moiseev.
The Deputy Minister stressed 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 said.
According to chief economist of Alfa Bank Natalia Orlova, the implementation of such initiatives may lead to a partial outflow of deposits. Reacting to the introduction of such measures, the more affluent investors will likely move funds in financial markets such as bond, she said. “Most deposits are not such a significant amount. People quite difficult to take the money somewhere outside the Bank”, — said Orlov.
“I don’t think it would lead to a massive outflow of deposits, but might spur interest in Federal loan bonds (OFZ). So there is a vested interest of the Ministry of Finance to encourage large depositors to move the majority of funds in public assets”, — said the chief economist of the pension Fund “Kapital” Evgenie Nadorshin. Therefore, he believes, such a statement is more like verbal intervention.
The coupon on FB is now not subject to income tax, says the Nadorshin. In this sense, the Treasury bonds that are already appealing against the rates and not just the largest banks on deposits, become an even more attractive tool.
In the case of the introduction of income tax at the rate of 13% per annum for deposits of additional income in the budget could be of the order of 200 billion rubles per year, calculated Orlova (taking into account the average yield on deposits at the rate of 8% per annum).
As of 1 October, the volume of retail deposits was of 23.23 trillion 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%).