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How to calculate personal income tax base if non-resident receives income in the form of interest on Deposit in banks

Question - answer - Legal advice 09.07.2018 at 07:58

Question - answer - Legal advice


natural persons accrued on deposits in banks located in

the territory of Russia, subject to personal income tax under the Tax

code, regardless of the tax status of physical persons. This conclusion

is contained in the letter of Department tax and customs policy of the Ministry of Finance

Russia from June 5, 2018 № 03-04-06/38483 "On taxation of income

natural persons – residents in the form of interest on deposits in banks,

in the territory of the Russian Federation". The rule for determining the tax base for

the calculation of personal income tax of interest on deposits, set article.

214.2 of the Russian tax code does not contain limitations for determining the tax base

the above income of physical persons-non-residents of the Russian


as a General rule, the tax base for determining

income interest on Bank deposits is calculated as the difference

between the accrued income on the interest rate under the Deposit agreement and

the income calculated proceeding from the refinancing rate of the Bank of Russia,

increased by 5 (on rouble deposits) or 9 (for foreign currency deposits)

percentage points valid for the period for which accrued

, such interest (section 1 of article 214.2 of the tax code). Currently the rate is

refinancing equal to the key rate is 7.25 percent.


in the case of individuals receiving such income, personal income tax is calculated,

, which shall be transferred by the tax agent (item 4 of article 214.2 of the tax code).