Discussion underway regarding tax benefits for annual rent expenditure of up to 70,000 rubles by the Council
In a recent development, Senator Airat Gibatdinov has proposed a tax deduction aimed at providing financial relief to families renting housing in Russia. The proposed tax deduction is set to be 13% of the officially paid rental fees, with a maximum annual deduction amount of 70,000 rubles.
The objective of this proposal is twofold. Firstly, it aims to reduce financial pressure on households, particularly those struggling with rental costs. Secondly, it seeks to increase transparency in the rental market by encouraging official lease agreements.
The initiative is currently undergoing government conclusion preparation, with the Senate set to examine the proposal for the tax deduction during the next parliamentary session. Refunds under the proposed tax deduction will only be possible for officially documented contractual relations, thereby excluding informal deals.
If approved, this tax deduction could potentially regulate the rental market by encouraging formal rental agreements and fostering a more transparent rental market. It is hoped that this move will provide much-needed financial relief to families renting housing in Russia.
It is important to note that, at the time of writing, there is no available information regarding the status or expected consideration of this proposal in the Russian Senate. For the most accurate and up-to-date information on Russian tax or housing legislation, consulting official Russian legislative sources or recent Russian news is recommended.
This news is reported by PГ. Stay tuned for further updates on this significant proposal and its potential impact on the Russian rental market.
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