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Russians will be refunded part of taxes for sport activities

The Commission under the Cabinet of Ministers of the Russian Federation has considered amendments on tax deduction for people’s expenses on health and fitness services, the government's press service reported, writes AEI PRIME.
Russians will be refunded part of taxes for sport activities

“A personal income tax deduction can be applied for people who work out and play sports. The Government Law-Making Commission has considered this initiative,” the message says.

The corresponding amendments to the Tax Code were prepared by the Ministry of Finance on behalf of the President of Russia.

The deduction for health and fitness expenses is expected to add to the line of social tax deductions. They are provided to those who spend money on medicines or treatment, pay for their studies, invest in non-state pension provision, voluntary pension insurance and life insurance, and do charity. The deduction allows reducing the tax payment or return the personal income tax already paid during the year.

“It is planned to provide a health-related tax deduction in the amount of actually incurred expenses, but not more than 120 thousand rubles for the tax period, taking into account other social deductions for personal income tax. The maximum amount of deduction can be RUB 15.6 thousand. The Ministry of Sports will form the list of organizations that provide services, upon receipt of which it will be possible to claim for a deduction,” added in the message.

It is noted that the bill will be submitted to the State Duma after revision.

Source: https://1prime.ru/state_regulation/20201019/832185896.html

Photos are from open sources.

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