Russian Tax Authority Sets Deadline for 2025 Tax Payments

14:30; 27 September 2026 year

### Russian Tax Authority Sends Out Tax Notices for 2025 Income The Federal Tax Service of Russia (FTS) has started sending out tax notices to individuals as of September 21, 2023, detailing their tax liabilities for the 2025 fiscal year. The notices include information on land tax, vehicle tax, property tax, and income tax (NДФЛ) that was not withheld by tax agents. The notices also include tax on interest income from bank deposits, savings accounts, and balances on bank cards if the income exceeds the non-taxable threshold. Taxpayers are required to pay the taxes by December 1, 2026. Residents of certain areas in the Kursk region of Russia have different payment deadlines as determined by separate government regulations. ### How Deposit Interest Tax is Calculated Income tax (NДФЛ) is only applied to the portion of interest income that exceeds the non-taxable limit. The limit is calculated using the formula: 1 million rubles multiplied by the highest key interest rate set by the Central Bank of Russia (CBR) during the year. For 2025, the maximum key interest rate was 21% per annum. Therefore, interest income up to 210,000 rubles is not subject to taxation. If the interest income exceeds this threshold, the excess amount is taxed at a rate of 13%. For annual incomes above 2.4 million rubles, a rate of 15% applies to the corresponding portion of the excess. Interest earned on foreign currency deposits is converted into rubles using the official exchange rate set by the CBR on the date of income payment. Interest on foreign currency deposits is taxed regardless of the interest rate set on the deposit. The FTS has clarified that bank loyalty program bonuses and monetary rewards received by clients are not considered taxable income and are not subject to NДФЛ.

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