... some liquid assets. Banks lend clients' money at a predetermined interest rate. This rate can vary depending on the term of the deposit, the financial institution itself, and its policies. The Central Bank annually sets a maximum interest rate that is not ... ... important to clarify this figure in advance. If a financial institution offers a rate higher than this, customers must pay income tax on the difference. How is the interest rate determined? Primarily, it is influenced by the size of the key rate, which is the ...

... sure to study the applicable tax regulations in your jurisdiction or consult with a tax professional. Risks of Investing in Cryptocurrency Any investment carries the possibility... ... guarantees and regulation. Cryptocurrencies are not regulated by the government as bank deposits or securities. If a wallet is hacked or an exchange goes bankrupt, recovering... ... to a wallet results in losing access to the coins. Software errors or hacker attacks on smart contracts can also lead to financial losses. The aforementioned dangers should...

... Advantages of Investing in Bonds Investing in domestic government bonds comes with numerous advantages, including: Interest rate. On average, the yield from investing in OGVZ is 2-3% higher than what banks offer for funds placed in deposit accounts. Even when investing in the national currency, profits often outpace inflation fluctuations. Currency-based investments also yield even greater returns. Absence of taxes. While deposits are subject to personal income tax, OGVZ are completely exempt from it. Thus, the government encourages ...

... taxes on income earned from financial operations. Several years ago, the so-called "Individual Investment Account" became accessible to Russian citizens. This account not only allows individuals to increase their capital but also offers a tax deduction of 13% on the deposited amount. Additionally, investors may be exempt from paying income tax on earnings generated from their financial activities. This account serves as an equivalent to the UK’s Individual Savings Account, which has been utilized for over a decade ...

... expires, they will receive a minimal interest rate. For many, the downsides of investing may seem insignificant. However, before depositing money in a bank, it is essential to weigh all factors carefully. Rushing into such decisions is inadvisable. Experienced ... ... the document at a bank in a different city without losses or risks. This method is often utilized by those who aim to minimize taxes or evade them entirely. Additionally, the document can be passed on as an inheritance, making it difficult for other heirs to contest or claim their share, as they are often unaware of the certificate's ...