The Ministry of Finance does not support the idea of the Central Bank to exempt long-term deposits from tax
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Deputy Minister of Finance Ivan Chebeskov said that the Russian Ministry of Finance does not support the proposal to exempt deposits for a period of 1 year from tax. Earlier, the head of the Bank of Russia, Elvira Nabiullina, supported this idea.
“We do not support this waiver proposal. In our opinion, it is necessary to encourage citizens to invest more in long-term investment instruments. In our opinion, the release of deposits will contradict this goal,” Mr. Chebeskov told reporters (quoted from “Interfax”).
The Deputy Head of the Ministry of Finance also said that the ministry is working on a proposal to exempt dividends on shares of Russian companies from personal income tax. Together with the Central Bank, as Ivan Chebeskov added, the department is working on the issue of stimulating companies to go public.
Previously Elvira Nabiullina reportedthat the Central Bank proposes to exempt long-term deposits from taxation in order to make them more popular. According to her, the regulator also proposes to halve the rates of insurance premiums for deposits for a period of three years and irrevocable certificates.
How Elvira Nabiullina explained the continued rigidity of monetary policy – in the material “High Stakes Conversation”.
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