The limit of non-taxable income of Russians may be increased

A bill drafted to increase the limit of non-taxable income of citizens will soon be submitted to the lower House of Parliament. At the moment, the limit is 4 thousand rubles, it but was proposed to ‘raise’ it to 10 thousand.

The authors of the initiative believe that the measure will have a beneficial effect on the financial situation of low-income citizens.

Among them, there are students, disabled people and pensioners.

The proposed changes will be made to the Article 217 of the Tax Code of the Russian Federation. What is more, the explanatory note to the document says that the previous threshold of non-taxable income of individuals was established more than 15 years ago, reports Izvestia.

Inflation reached 200% over this period, forcing lawmakers to resort to adjustments.

Members of political parties represented in the State Duma spoke in favor of the proposed initiative. The deputies from the Liberal Democratic Party of Russia and ‘A Just Russia’ have already supported future changes in tax legislation in this part. At the same time, the Communist Party note that an increase in the amount is really necessary, but in an even greater amount than has been proposed. Representatives of the United Russia and New People parties intend to study the proposal in detail after the bill is submitted to the State Duma.