The Cabinet of Ministers decided to exempt income from personal income tax in the form of interest on deposits for 2021-2022.
Russian President Vladimir Putin has signed a law according to which VAT is abolished for individuals when buying gold.
The relevant document introduces gold bullion withdrawn from storage facilities into investment turnover.
This rule applies to operations carried out since March 1, 2022.
Prior to that, transactions for the purchase of precious metals were subject to VAT at 20%. The tax affected bullion from the vaults, and coins were not taxed.
In the case of a sale, the difference in value was not compensated.
Such a law was adopted to prevent the use of precious metals for production purposes.
The document also introduces a ban on introducing special tax regimes for the jewelry industry from January 1, 2023.
Against this background, it became known that the Cabinet of Ministers made a proposal to temporarily exempt Russians from paying income tax on interest on deposits in the bank.
This is stated in the Telegram channel of the Russian government.
The norm applies to deposits of more than one million rubles. The tax will not be levied for 2021-2022.
The authorities also decided to change the approach to paying the increased transport tax.
“From this year it will be counted from ten million rubles, and not from three, as it was before”, – said the Prime Minister of the Russian Federation Mikhail Mishustin.
The Government has also developed a draft action plan to support the economy under the pressure of sanctions.
Earlier, topNews wrote that the Central Bank banned the withdrawal of currency over $ 10 thousand. The regulator also banned the sale of currency to citizens.