At a meeting held yesterday, February 8, the government adopted draft amendments to the bill on a single tax deduction for personal income tax up to 400 thousand rubles. per year for long-term savings. This is reported on website Ministry of Finance.
Amendments were introduced for the second reading of the bill. They bring the provisions of the Tax Code into conformity with the law on non-state pension funds, which approves the program for the formation of long-term savings. If the amendments are adopted, tax deductions will reduce taxable income that has been received since the beginning of this year under contracts concluded since the beginning of 2024.
In addition, the amendments provide additional provisions to simplify the procedure for tax deductions for long-term savings. Changes in the law will also oblige non-state pension funds to transfer information related to the conclusion of long-term savings agreements to the tax authorities – this will ensure control over deductions.
A bill on tax deductions was submitted to the State Duma in October 2023. In November, deputies adopted it in the first reading. New instruments for long-term investments and savings began to operate from the beginning of 2024.
Why heterogeneity of inflation pressure promotes the idea of unequal rates – in the Kommersant publication “Taxes according to the situation”.