The Federation Council approved personal income tax deductions for long-term savings of Russians – Kommersant

Council of the Federation supported a law on the introduction of tax deductions for personal income tax (NDFL) on long-term savings of citizens. Services for the formation of such savings will be exempt from value added tax (VAT).

The tax deduction will be provided in the amount of paid pension contributions under non-state pension agreements, paid savings contributions under long-term savings agreements, funds contributed to IIS-3, as well as income from transactions on an individual investment account. The amount of deduction is up to 400 thousand rubles. in year.

The conditions for receiving the contribution will be the fact of receiving a non-state pension and the validity of a long-term savings agreement for at least ten years (during the transition period – at least five years with an annual increase in the term by a year).

At the same time, the law abolishes investment tax deductions for personal income tax on income from the sale of securities of foreign issuers. The measure does not apply to securities registered in the states of the Eurasian Economic Union.

About voluntary pension savings – in the publication “Kommersant” “Conditional early pension”.

Leonid Uvarchev