Every citizen of the Russian Federation who pays personal income tax at the standard rate of 13% of official income is entitled to receive tax deductions – a refund of part of the amount paid. You can get it through your employer or by submitting an application and documents confirming the right to deduction to the tax service yourself.
Traditional types of deductions available to citizens in 2021
There are a number of familiar tax deductions that have worked before: Standard (provided to certain social categories of individuals, persons with disabilities, as well as young parents – for children). Social (related to the payment of treatment, training, sending funds to charity, etc.). Investment (provided on income received as a result of transactions with securities and not only). Property (can be obtained when selling property, purchasing new housing or improving housing conditions). Professional.
In 2021, there are additional types of deductions that can also be used in the future.
What has changed in 2021?
At the end of January this year, the State Duma of the Russian Federation considered a bill that will allow certain categories of deductions to receive under a simplified scheme. Citizens will be able to automatically make deductions that relate to the payment of medical treatment, the purchase of real estate, the payment of tuition fees, etc. However, the adoption of this law was delayed, for this reason, this year everything is drawn up according to the old order. The changes also affected the distribution of all types of income to the main and non-main tax bases.
The law includes non-basic income in the form of profit received as a result of winning a drawing or lottery, selling securities, etc. All types of income listed in Article 210 of the Tax Code: sub-items 1 to 8 in Part 2.1 and 1 to 7 in Part 2.2.
The main base includes all other types of income (wages, interest accrued on deposits, etc.). Deductions to income from the main base are applied according to the old scheme. Of the non-core-only three types: when selling securities that have been held by the investor for 3 years; on the income from the ISS when performing transactions with securities (their purchase or sale); on income generated as a result of the transfer of losses to another tax period.
Please note that the innovations only apply to the income received in 2021. The deduction is possible at the beginning of 2022.