Putin exempted payments to participants in military operations from taxation
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Russian President Vladimir Putin signed a law according to which payments by participants in the military operation in Ukraine are exempt from personal income tax (PIT) and insurance premiums. Appropriate amendments are being made to the Tax Code of Russia.
According to document, published on the portal of legal information, not only mobilized, but also volunteers and contract servicemen participating in the military operation, as well as members of their families, are exempted from personal income tax and insurance premiums. The tax will not be levied on financial assistance received from January 1, 2022.
In addition, tax exemption is provided for income received in connection with the termination of an obligation under a credit or loan agreement in the event of the death of a serviceman or the receipt of a group I disability.
Also exempt from taxes are payments to employees for reimbursement of expenses who are sent on a business trip to the Donetsk and Luhansk People’s Republics, to the Kherson or Zaporizhia regions to restore infrastructure facilities.
The law also provides for tax incentives, which should further stimulate employers to provide financial support to their mobilized employees.
19 October Vladimir Putin instructed establish allowances for mobilized and military personnel of at least 195 thousand rubles. The amount of payments will depend on the rank. On October 25, the funds were brought to the Ministry of Defense. Prior to this, in some regions, mobilized people repeatedly complained about late payments.
Sergey Mikischenko, representative of the financial block of the Russian Ministry of Defense explainedthat the money will be paid from the 10th to the 20th for the previous month of service.
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