Russian Ministry of Finance: the Cabinet of Ministers approved a new personal income tax deduction of 400 thousand rubles per year

2024-02-09T06:52:51.578Z

Highlights: The Russian government has approved draft amendments to the bill. The amendments provide for a single tax deduction for personal income tax of up to 400 thousand rubles per year for long-term savings of Russians. Earlier, Svetlana Bessarab, a member of the State Duma Committee on Labor, Social Policy and Veterans Affairs, commented on the proposal to change the system for calculating the tax deductions for children. She said it would be a mistake for children to be exempt from the tax deduction.

The Russian government has approved draft amendments to the bill, providing for a single tax deduction for personal income tax of up to 400 thousand rubles per year for long-term savings of Russians.