Date: 4 weeks ago   Category: Economy

The State Duma adopted the law on exemption from a personal income tax during "mortgage vacation" — Rambler News Service


The State Duma during the meeting unanimously adopted in the third reading the bill of release of citizens from payment of a personal income tax of 35% during "mortgage vacation". The bill "offers to exempt citizens who used the right for "mortgage vacation", from payment of an income tax when obtaining material benefit by them in connection with savings on interest during "mortgage vacation"", it is noted in the explanatory note to the document. Also it is specified in a note that the income of the borrower during "mortgage vacation" is subject to taxation at the rate of a personal income tax of 35%, in this regard "claim situations between banks which are tax agents are probable and will fulfill duties on deduction of a personal income tax or informing on it tax authorities, and borrowers". On May 1 the President of Russia Vladimir Putin signed the law on "mortgage vacation" which gives the chance to the borrower who is in a difficult life situation within 6 months not to pay a mortgage loan without receiving the raised penalties and risk to lose housing.

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