Tax rate on interest income in Russia
Accruing interest income on deposit every Russian bank must withhold certain tax in case the rate used to accrue this interest was higher than fixed edge (for deposits in foreign currencies - higher than 9% annually). Tax rate is stipulated by 224 article or Tax Code of Russia:
- 35% - for tax residents; (whose who spend in Russia more that 183 days a year)
- 30% - for non tax residents.
This rate values have been never changed since 2000.