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Central Bank Against Deposit Interest to Be Taxed
23.02.2013 08:27
Central Bank Against Deposit Interest to Be Taxed
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The head of the Central Bank does not support the plan to impose an income tax on the deposit interest. 

Earlier, the Finance Ministry has drafted a bill that would see all deposits worth higher than a million roubles taxed at a 13 percent rate. 

According to Sergey Ignatiev, it’ll be extremely difficult to set up a system that would monitor money flows across banks and account owners. 

It will also prompt an additional capital outflow, he added, because currently there are no ways to keep tabs on Russians’ deposits in foreign credit institutions. 

Author: Mikhail Vesely

Tags: Central Bank Sergey Ignatiev    

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