Tax liability

Customer’s income from interest received from a credit organisation attract tax liability.

For rouble deposits the personal income tax base is determined as the sum by which interest calculated under the contract conditions exceeds the interest calculated for rouble deposits on the basis of the refinancing rate of the Central Bank of the Russian Federation, increased by five percentage points, prevailing over the period during which the aforementioned interest is calculated.

For foreign currency accounts the personal income tax base is determined as the sum by which interest calculated under the contract conditions exceeds the interest calculated for foreign currency deposits based on a 9% annual interest rate.

The tax rate is set at:

• 35% — for customers who are tax residents of the Russian Federation;
• 30% — for customers who are not tax residents of the Russian Federation.