With new child benefits will not deduct taxes
Families with children who will receive new child benefits from 2018, do not have to pay income tax. The Russian government approved the bill, which implies the abolition of personal income tax on monthly social payments.
In mid-February, such a draft law was approved by a special commission of the government, and now the whole cabinet has supported the initiative.
The announcement of this appeared on the official website of the Government of the Russian Federation.
At the end of last year, President Vladimir Putin offered to help young families with children not only refinancing mortgage lending rates, but also to extend the maternity capital program, and also start paying monthly allowances for the birth of the first baby.
From 1 January 2018, the state pays parents for all children born on this date and later on firstborn children 10 500 rubles each month until the child reaches the age of one and a half. By 2020, the allowance is planned to increase to 11,100 rubles.
Since in the Tax Code of the Russian Federation such allowance for firstborn was not indicated as a benefit, in theory, parents should have paid income tax on the amount received. Now this discrepancy of laws is eliminated.