A new type of tax reduction may appear in Russia

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The State Duma considered in the first reading a government bill allowing personal income tax deductions for savings. This was reported by RIA News.

As follows from the materials of the lower house of parliament, deductions will be provided for contributions to non-state pension funds and IIS for a period of 10 years or more. Deductions will allow you to receive compensation for paid pension contributions up to 400 thousand rubles per year, subject to certain conditions. At the same time, the current deduction system for IIS, which is opened until 2023, is also preserved.

However, deductions for income from the sale of foreign securities, except those registered in the EAEU, are cancelled. Previously, such a deduction of up to 9 million rubles was provided if securities were held for more than 3 years.

Before that the Russian government suggested introduction of a new type of securities – shares with multiple voting rights. As Deputy Prime Minister Andrei Belousov explained, the main difference between securities and ordinary shares with voting rights will be that their holders will be given multiple votes instead of one at EGMs and GOSs.

Earlier economists appreciated Russian hopes of unlocking their presence in the West.

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