Tax on Card Transfers from June 1, 2025

Recently, reports have been circulating in the media, messengers, and social networks claiming that a tax will be introduced on all bank card transfers starting June 1, 2025. These claims are not accurate.

Factual Information:

On June 1, Federal Law No. 41-FZ dated April 1, 2025, comes into effect. This law is aimed at combating fraud. It contains no provisions regarding taxation, taxes, income, or the Federal Tax Service.

Official Position of the Federal Tax Service of Russia:

"The mere fact of a bank transfer of funds between individuals is not subject to taxation."

Comment by Konstantin Ananyev, Real Estate and Tax Law Consultant at Duvernoix Legal:

"The amendments tighten control over banking operations. The main goal is protection against fraudsters. However, citizens should be prepared for possible delays when withdrawing large amounts or making unusual transfers. We recommend checking with your bank in advance on how the new rules will apply and, if necessary, setting up additional ways to confirm transactions."

Starting July 1, 2025, changes to banking legislation will come into force regarding restrictions on cash withdrawals and transaction confirmation in cases of suspected fraud. These measures are not related to taxation.