Vladimir Putin signed a law exempting the income of large families from personal income tax when selling housing

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AK&M 29 November 2021 19:18

Russian President Vladimir Putin signed the law "On Amendments to Part Two of the Tax Code of the Russian Federation", which exempts families with two children from personal income tax when selling an apartment in order to improve living conditions. This is stated in the message of the lower house of parliament.

The income received from the sale of residential real estate by families with two or more children in the case of the purchase of new housing in order to improve living conditions is exempt from personal income tax. The law is retroactive: the norm will apply to income from the sale of apartments received starting from January 1, 2021.

The amendments also exempt from personal income tax income received as part of incentive measures for citizens participating in vaccination, as well as in connection with the implementation of pre-gasification measures.