Russian Federation pays for military costs with new taxes – SVRU

Russia has changed the burden of financial losses caused by the war against Ukraine, its citizens. Today Russians have to pay taxes to bank deposits for 2024, which has been one of the reay steps for state budget losses. On Thursday, September 25, the Foreign Intelligence Service reported Ukraine (SVRU).

According to the message, this tax was introduced after the onset of the entire Russian invasion of Ukraine. It aims to cover military costs by mobilizing the population. The vacation is based on the income of interest in deposits: for the most part, the rate is 13%, and for citizens with an annual income of over 5 million rubles (about 59 thousand dollars) – 15%. Since 2025, it has been planned to introduce a progressive size with a upper rate limit of 22%, which will be the basis for taxation since 2026.

Despite the assurance of authorities to ensure “social justice”, this step has been evaluated as a quick way to fill the budget that experiences significant costs due to military operations. According to data published in 2023, this tax brought the state about 111 billion rubles ($ 1.31 billion).

Earlier, the Ministry of Finance of the Russian Federation introduced a government budget draft for 2026 and the planning period 2027–28, providing an increase in the amount of tax (VAT) from 20 to 22%. The funds that this proposal will bring will go to “financing of defense and security.”