The Ministry of Finance has warned about the possible negative consequences of raising personal income tax on dividends

12:00; 13 August 2025 year

Alexey Sazanov, State Secretary and Deputy Minister of Finance of the Russian Federation, warned about the possible negative consequences of raising personal income tax (personal income tax) on dividends. In an interview with The Expert, he explained that such changes can slow down the development of the financial market.

"We have carefully analyzed the situation. The results showed that an increase in the tax on dividends to 18, 20 or 22% may reduce the desire of Russians to own companies directly and distribute dividends among individuals. Therefore, we decided to keep the maximum tax rate on dividends at 15%," Sazanov said.

This decision was made to preserve the attractiveness of the dividend. According to Sazanov, eventually the tax on dividends may rise to 20%. This will happen if an additional 5% income tax is taken into account.

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