Russian MPs Adopted Several Amendments to Tax Legislation

On 18 November 2021, during the meeting of the State Duma of the Federal Assembly of the Russian Federation, the MPs adopted the Law on Amendments to Part Two of the Tax Code of the Russian Federation (Regarding Certain Taxation Issues).

The Law exempts from personal income tax those incomes that were received during the sale of housing by families with two or more children in the case of the purchase of new housing in order to improve housing conditions. It is expected that the adopted amendments will allow families with children to purchase new, more comfortable housing faster.

At the same time, the law is retroactive: this rule will apply to income from the sale of apartments received starting from 1 January 2021.

Photo: http://duma.gov.ru