Russia Tax Agency Announces Increases in Social Tax Deductions, Changes in Filing Deduction Applications

The Russian Federal Tax Service Jan. 22 announced increases in individual income tax deductions, and changes in filing deduction applications. The announcement includes: 1) the increase in the total amount of social tax deductions to 150,000 Russian rubles (US$1,501) from 120,000 rubles (US$1,200), and in the maximum amount received for all social deductions to 19,500 rubles (US$195) from 15,600 rubles (US$156); and 2) the increase in the deduction limit for child education to 110,000 rubles (US$1,100) from 50,000 rubles (US$500), and in the maximum amount received for each child to 14,300 rubles (US$143) from 6,500 rubles (US$65). The announcement also ...