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Budget subsidies granted to natural persons for housing, personal income tax are not subject to
Subsidies paid by the cit izens of the budgets of all levels, for the purchase or construction of residential premises shall not be taxed on the income of individuals. This was Russia's Finance Ministry reminded in a letter dated 08.09.11 № 03-04-05/6-640. The list of income not subject to personal income tax, established by Article 217 of the Tax Code. Federal Law of 29.11.07 № 284-FZ (hereinafter - the Law № 284-FZ), the list was supplemented by paragraph 36, under which tax-exempt payment of the purchase and (or) the construction of residential premises made available through the federal budget, the subjects of the Russian Federation and local budgets. But there are two essential conditions as provided in paragraph 5 of Article 3 of the Law № 284-FZ. Under these conditions, the provisions of paragraph 36 of Article 217 of the Tax Code: a) apply to legal relationships arising from 1 January 2005; b) does not apply to taxpayers who before January 1, 2008 to pay taxes and get a property tax deduction for amounts provided by the budget.
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| Category: My articles | Added by: AleksandroVSD (21.09.2011)
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