Prospects, comments, solutions
ProsperoScope is a newsletter of Deloitte’s Private Client Service team. This newsletter presents recent and upcoming changes in Russian and international tax legislation, and information about trends and interesting developments in the private client world.
It is not intended to be a comprehensive statement of the law. We accept no liability for the completeness and accuracy of information contained in the newsletter or for any decisions made by you after reading the newsletter without additional professional consultation.
15 April 2020
Changes in tax obligations of individuals in the current economic environment
Given the current СOVID-19 related restrictions, the deadlines for filing personal income tax returns have been extended by three months, from 30 April to 30 June 2020.
Also, starting from 2021, the tax exemption for interest (coupon, discount) income from federal loan bonds and rouble-denominated Russian traded bonds will no longer apply.
Besides, interest paid on deposits of individuals exceeding RUB 1 million at an interest rate above the Central Bank of Russia (CBR’s) key rate will now be included in the personal income tax (PIT) tax base.
Read on to learn more about these and other developments.