The Ministry of Finance saw the political significance of the introduction of personal income tax on income from deposits

According to the Deputy Minister of Finance of the Russian Federation Ilya Trunina, which is responsible in the Ministry for tax policy, income from deposits should be taxed on incomes of physical persons (NDFL), the correspondent of the Krasnoyarsk economic forum.

“I believe that even if we do not raise this issue, it will be put in political terms. Such benefits in other countries, as a rule, no,” said the official.

“We believe that it is the right way to go. Because it is not clear why we like this type of income is not taxable at all. I can’t find a rational explanation. Why any wages, even below the average, the tax to incomes of physical persons, and if a person receives one million roubles in a year of interest, for example, he does not pay a penny of personal income tax with these revenues,” he said.

At the same time, Trunin said that the Finance Ministry has not yet discussed this idea and comes out with such a proposal. “Maybe someone else will offer it in the discussion of tax reform,” he said.

Later, the press service of the Ministry of Finance in Facebook office once again emphasized that the Agency “is not proposing to levy personal income tax income from Bank deposits”.

In October 2016, Deputy Finance Minister Alexei Moiseyev said that as one of the options the Ministry is considering the idea of taxation of income from deposits of citizens. “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 then Deputy head of the Ministry of Finance.

He explained that the 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. In recognition of the Deputy Minister, 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,” then added Moses.

However, he clarified 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.