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Liability Of Mortgages

Rossiah taxed the purchase of foreign real estate

Photo: ITAR-TASS/ Anton Novoderzekin

Photo: ITAR-TASS/ Anton Novoderezkin

The Federal Tax Service has decided to consider loans in foreign banks as a means of enriching.

The Federal Tax Service of Russia (FN) has decided to levy taxes on Russians who are taxed by the Russians. bought property abroad Thanks to a mortgage loan in a foreign bank. This follows from the June news published on the FNL website and from an official letter sent by the Ministry of Finance to tax inspectors throughout the country in May 2016, explaining RBK-Insolvency to the head of the Foreign Real Estate Department of the Ryelator Agency W1 Evans Elena Marinichev.

The duty to pay a tax to the Russian Treasury arises at a time when the tax resident of Russia accepts a loan with a small interest rate in a foreign bank, explained the RBK-Nevigability in W1 Evans. The Russian tax resident is called a person who spends more than 183 days in the calendar year.

At present, the Russian Centre ' s base interest rate is 11 per cent. This means that it is possible to borrow a loan from the Russian retailer at a rate not lower than that. However, housing loans at a much lower rate are available to residents in many countries around the world. In Finland, for example, it is possible to take a mortgage at 1,83 per cent per annum, in Switzerland at 1,75 per cent, and in Denmark there is a negative-rate mortgage. In theory, Russian citizens can use this mortgage.

For such russians, article 212 of the Penal Code establishes the obligation to pay the tax against the percentage difference. The threshold for foreign exchange loans is 9 per cent: all loans with a lower rate of Russian law consider profits to be gained, explained the RBK-Nevigability to the Vice-President of the Moscow Bar Association Sergei Smirnov. "You got a loan in the bank, told Smirnov. - Money isn't yours. You have to get it back. You pay the bank interest for money. You didn't get any income. But if you brought that money to Russia and used it here, you're gonna have to pay the tax, because in Russia, you can't take credit for that [low] percentage.”

In the event that a Rossian not only borrowed from a foreign bank, but also spent the money he received for the purchase of housing abroad, the situation becomes less obvious.

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