Economy

Russian Cabinet of Ministers plans to change the process of filing personal income tax declarations for property

Ministry of Finance and Federal Tax Service are preparing to simplify the submission of personal income tax declarations when property is sold

Russia's Ministry of Finance together with the Federal Tax Service (FTS) is developing amendments to the Tax Code, which will simplify the procedure for filing personal income tax (PIT) declarations for citizens when selling real estate and vehicles. This was reported in the press service of the Ministry of Finance.

Russian Cabinet of Ministers plans to change the process of filing personal income tax declarations for property
Фото: коллаж RuNews24.ru

The proposed amendments will enable taxpayers not to complete declarations themselves. The Federal Tax Service will automatically calculate tax on the basis of data received as part of interdepartmental information exchange.

Work on the initiative is being conducted on behalf of the Government and is aimed at automating the interaction between the tax service and citizens, which will significantly reduce the labor costs of both parties, noted in the Ministry of Finance, RBC learned .

Earlier, the head of the Federal Tax Service Daniil Egorov reported on plans to cancel the filing of declarations for personal income tax, but the exact timing of this innovation was not specified. In June of this year it became known that the tax service intends to abandon personal income tax returns, at least for the main types of income subject to declaration.

The FTS specified that automatic transfer of personal income tax calculation will be carried out for income from:

  • sale of immovable property;
  • assignment of claims under share construction agreements;
  • sale of motor vehicles and other types of income.

This measure is possible due to the fact that the FTS already receives from the state authorities most of the necessary information for the calculation of personal income tax in automatic mode.

Earlier Russians were warned about the risk of rising prices for foreign goods on marketplaces. Anton Siluanov also promised an adequate response to the use of Russian assets.

Author: Наталья Чудесатова

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