The Ministry of Finance explained how Russians with children will benefit from tax changes 05.28.2024, 22:01

For parents with two or more children, it is proposed to refund personal income tax at the rate of 7% of 13%, that is, the tax rate for them will be 6%. Tax changes are discussed in the materials of the Ministry of Finance of the Russian Federation.

We are talking about families whose average income per family member is below 1.5 times the subsistence level of 319,194 rubles per person per year in 2025 conditions. That is, the total annual income of a family of four with two children should not exceed 1.3 million rubles.

About half of families with two or more children will receive a tax payment. Money for this will be allocated from the federal budget.

The payment is something like a cash refund or 13th salary and will be paid once a year. Both parents will be paid with an income of up to 53 thousand rubles per month. If one of the parents works, their monthly income should not exceed 106 thousand rubles.

On May 28, the Ministry of Finance sent a package of draft laws to the Russian government containing amendments to the 2024 budget law and the planning period of 2025 and 2026, as well as amendments to the Tax and Budget Laws. The proposals will be evaluated in the commission on legislative activities and then in the government meeting. The amendments are planned to be adopted by the State Duma in its spring session, which will ensure the implementation of the instructions contained in the president’s message to the Federal Assembly on February 29, 2024.

Formerly State Duma suggested Consider that the personal income tax progression threshold is two average salary levels.

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Source: Gazeta

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