Russians Implement Taxes on Card Transfers Starting June 2025, Failing Which Accounts Will Be Frozen
06:52 3 June
Milana Nikolaeva
** Finance Transactions in 2025: A Quick Guide **
In the year 2025, banking transactions between individual citizens remain unregulated when it comes to one-off or occasional transfers made towards family or friends, such as financial aid for education or group gifts. These transactions will not be taxed provided that the monthly total doesn't surpass 100,000 rubles, and the activities show no signs of entrepreneurial endeavors. The Federal Tax Service (FTS) keeps a close eye on such transactions, yet they will only scrutinize if they find indications of business activity.
In contrast, if a bank account regularly receives large sums from different individuals, the tax authorities may consider it as income. For instance, if someone is operating as a self-employed individual, providing repairs, selling goods or services, and receiving payment via their bank card, they are expected to file a tax return, and pay the NDFPL tax at a rate of 13%. Self-employed individuals pay tax at a rate between 4-6%. Banks engage in monitoring transfers, and if they detect any pattern that seems dubious - such as frequent large deposits or consistent transfer patterns - the information will be forwarded to Rosfinmonitoring.
Rosfinmonitoring tracks transactions worth 600,000 rubles or more, whether made at one go or monthly. The FTS also monitors transfers with notations, such as "for services" or "payment." Such remarks can lead to an investigation. No new personal income taxes have been introduced for individual transfers in 2025.
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- Driving Essentials: Traffic police will strictly fine all drivers 800 rubles for missing necessary documentation in their vehicles starting from June 1st, 2025.
Key Points to Consider:
- Income Tax: Income received from employment, business, or other sources is subject to personal income tax at a rate of 13% for Russian residents. However, for gifts or loans, different tax rules may apply.
- Banking Regulations: As of May 30, 2025, new regulations require individuals to open a bank account and provide thorough documentation for transfers exceeding 100,000 rubles, a measure to combat money laundering and capitals export.
- Interest Income: The Bank of Russia's key interest rate reduction to 20% in June 2025 affects interest accrued from savings but does not directly alter the tax on large sums received.
- Restrictions on Transfers Abroad: The Bank of Russia has extended restrictions on transferring funds abroad until September 30, 2025, which may impact large international transfers.
For a clearer understanding of your specific tax obligations, it's advisable to consult a tax professional, as the regulations can be complex and subject to change.
In the context described, here are two sentences that contain the words 'finance', 'business', and can be derived from the given text:
- Self-employed individuals are expected to file a tax return and pay the NDFPL tax at a rate of 13% if they are operating a business and receiving payment via their bank card.
- The Federal Tax Service (FTS) keeps a close eye on banking transactions, especially those indicating business activity, and may scrutinize them for signs of entrepreneurial endeavors.
