The State Duma of the Russian Federation adopted in the first reading a bill completely exempting financial assistance for needy students of higher education institutions from personal income tax.
This means that when financial aid is paid to college and university students in need, no tax will be withheld from it. Now these payments are subject to personal income tax if the amount of support exceeds 4,000 rubles.
Such financial assistance is provided to: children left without parental care; disabled students; low-income family members and other categories of students in need of support. The order and amount of aid are determined by the higher education institution or college by way of local acts.
It is assumed that if the law is passed, it should come into force on the day of official publication and apply to income earned from the 2023 tax period.
During the meeting, State Duma deputy Artem Metelev (United Russia) said that, according to the Federal Tax Service, 450,000 people in Russia receive such material assistance. people.
“On the one hand, the state and universities provide this aid, on the other hand, they take back 13% of payments over PLN 4,000. rubles, treating material support as income. But this is not income, it is in its essence, in its sense, a targeted payment that is paid in a difficult situation not for the purpose of getting rich, ”he said.
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