RBC: Russians need to pay tax on gifts worth over 4,000 rubles
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Russians need to pay tax on a gift if its value exceeds four thousand rubles. The amount in excess of this value is defined by law as income, therefore it is subject to personal income tax (PIT). RBC writes about it.
Lawyer Irina Adamova, in an interview with the publication, clarified that a tax of 13 percent will be withheld only on the amount that exceeds four thousand rubles. At the same time, Andrey Lokis, a special adviser on tax issues at Pen & Paper KA, said that gifts presented by relatives or family members, as well as real estate, cars, shares, shares, shares are exempted from taxation.
Gifts in cash and in kind are also not taxed, unless we are talking about paying for the cost of goods, works or services, continued Lokis. If gifts are given by people who are not relatives to each other, then first of all the donation that is subject to registration will be taxed, added Irina Adamova.
If an organization gives a gift, then it must document the transfer of the gift, otherwise the income will not be considered a gift, said Lokis. In this case, the donor can take the property at any time, Adamova clarified, since the oral donation agreement is null and void.
Earlier it was reported that Russians from 2022 will begin to pay tax on interest on bank deposits over one million rubles. The tax will be levied on income earned in 2021. Personal income tax (PIT) in the amount of 13 percent will be levied on the amount of interest on all deposits and balances in Russian banks in excess of income calculated using the formula (one million rubles multiplied by the key rate of the Central Bank at the beginning of the tax period).
