The State Duma approved a law that cancels the filing of a 3-NDFL tax return for citizens when selling residential real estate (houses, apartments, rooms) worth up to one million rubles a year, and non-residential (garages, etc.) – up to 250 thousand rubles, Russian media reported.
Currently, it is necessary to pay personal income tax (income tax for individuals) in the amount of 13% in the case of the sale of real estate, which they owned for less than 5 years.
In November 2020, the Russian President signed a law to increase the tax rate on the income of individuals who earn more than five million rubles a year from next year. The tax on the rest of the income will be 13%.
Irregular income, for example, from the sale of any personal property of citizens (except for securities), will not be taxed. The increased rate will not be affected by insurance payments under insurance and pension agreements, Russian media added.
