The State Duma will submit a project to exempt pensioners from personal income tax on deposits

Photo of author

By admin

On April 19, a group of deputies will submit to the State Duma a bill exempting non-working pensioners from paying personal income tax (PIT) on income from bank deposits. This was told to “RIA Novosti” in the press service of one of the authors of the initiative, First Deputy Chairman of the Committee on Budget and Taxes Mikhail Shchapov.

‌Changes are proposed to be made to the Tax Code of Russia. The group of authors of the project includes the leader of the Communist Party of the Russian Federation Gennady Zyuganov, deputies of the faction Ivan Melnikov, Yuri Afonin, Nikolai Kolomeitsev, Mikhail Shchapov and others.

‌The authors of the project explained that, according to the law, from January 1, 2021, citizens must pay personal income tax on interest on bank deposits in excess of 1 million rubles. According to the authors of the initiative, when adopting this law, they did not take into account the interests of socially unprotected groups of the population, such as unemployed pensioners, therefore it is proposed to exempt this group of citizens from such payments.

According to the authors of the bill, this benefit “can be used not only for good purposes,” therefore, a limit is introduced on the size of the contribution per pensioner.

“Tax-free income cannot exceed 12 living wages of a pensioner per year. That at the current refinancing rate of the Central Bank of the Russian Federation approximately corresponds to income from a deposit of less than 3 million rubles, “- noted in the press service of one of the authors of the project.

Shchapov said that if the law is amended right now, then pensioners will not have time to “lose money,” because the tax will be calculated only based on the results of 2021.

On April 14, the Federation Council approved a law that simplifies the procedure for obtaining personal income tax. It is noted that the new law will allow Russians to receive tax deductions using their personal account on the website of the Federal Tax Service (FTS). Citizens do not have to collect documents and fill out tax returns.