Why bank deposits income should be taxed according to the same rules as other income.

After the broadcast appeal of the Head of State on March 25, 2020, special attention was paid to his words related to the proposed changes in the taxation rules on bank deposits: “In many countries the interest income of individuals from bank deposits and investments in securities are subject to income tax ... I propose to establish a tax on the interest income in the amount of 13 % for citizens whose total volume of bank deposits or investments in debt securities exceeds 1 million rubles”. Following the President's instructions, appropriate amendments were made to the Tax Code of the Russian Federation, which will enter into force on January 1, 2021 and will be applicable from 2022, when individuals start reporting on their income for 2021.