10.07.2024 The Federation Council has approved a draft law on improving the tax system. The law will enter into force on January 1, 2025.
Major changes in terms of personal income tax.
The personal income tax rate for income up to 2.4 million rubles per year remains at 13%, for income from 2.4 million to 5 million rubles. – 312 thousand rubles (personal income tax is paid at the rate of 13% on the amount of 2.4 million rubles) and 15% on the excess of 2.4 million rubles; for income from 5 million to 20 million rubles. – 702 thousand rubles and 18% of the excess of 5 million rubles; for income from 20 million to 50 million rubles. – 3,402 million rubles and 20% of the excess of 20 million rubles; over 50 million rubles. – RUB 9,402 million and 22% of the excess of the income threshold.
The increased rates apply not to all income but to the amount of the excess. Wage supplements for workers in the Far North and equated areas with unfavorable conditions are exempt from increased personal income tax.
Other “non-labor” income of residents will be subject to personal income tax on a two-stage scale: 13% – if the income does not exceed 2.4 million rubles; 312 thousand rubles plus 15% – from the amount of income exceeding 2.4 million rubles.
The income in question is as follows:
- the sale and donation of property, except for securities. Property tax deductions will apply as before;
- insurance payments under insurance contracts and pension payments;
- shareholdings, including dividends;
- interest on deposits and bank balances in the territory of the Russian Federation;
- transactions with CFAs in the form of payments not related to the redemption of CFAs, if the payment of income in the amount equal to the amount of dividends received by the person who issued such CFAs is provided for;
- transactions with securities and derivative financial instruments (including those accounted for in an IIS), repo transactions involving securities, and securities lending transactions;
- sale of shares in the authorized capital of Russian organizations, shares, bonds and investment units specified in clauses 2 and 17.2-1 of Article 217 of the Tax Code.
Establishes a single amount of fixed personal income tax for owners of five or more controlled foreign companies in the amount of 25 million RUB.
The deduction for the second child will increase from 1,400 to 2,800 ₽ and for the third and subsequent children from 3,000 to 6,000 ₽. The amount of annual income within which the deduction is entitled will increase to 450,000 ₽.
A deduction is introduced for passing TRP standards. The amount of the deduction is 18,000 ₽ per tax period. The deduction will be available to:
- Those who completed the GTO norms for the first time and received the insignia.
- Those who retook the standards after a year and confirmed the received badge.
A prerequisite for receiving a deduction for taking the TRP is that a medical examination must be completed in the same calendar year in which the badge or its confirmation was issued.
The deduction will be granted for the tax period in which the badge or its confirmation was received and the medical examination was completed. You can get the deduction through the tax office or your employer.
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