The size of tax deduction in Russia may be increased by 2.4 times

Deputies of the State Duma came up with an initiative to change the size of the tax deduction.  According to the parliamentarians, it needs to be increased, since the cost of education and treatment is growing, while the established deduction limit still remains at the level of 120 thousand rubles.

The idea has already been formalized into a draft law and sent to the chairman of the State Duma of the Russian Federation, Vyacheslav Volodin, the day before. Among the authors of the initiative, there are Sergei Mironov and Olga Epifanova.

The proposed amount for the deduction is 288,608 rubles. The entry of the norm into the force is expected from the next year.

The explanatory note to the document notes that the previous increase in the tax deduction occurred in 2008 - then its size increased from 100 thousand rubles to the now established 120 thousand. Over the years, the cost of medical services and education has increased, but the opportunity to receive a deduction within the established limit remained the same. As measures to support citizens, deputies proposed indexation of the deduction for the size of inflation over the past 12 years.

If the draft law is adopted, it will be possible to apply a tax deduction in the amount of more than 288 thousand rubles and receive a refund of up to 37,519 rubles instead of the currently established 15,600 rubles. Thus, the proposed amount is almost 2.5 times more than the current one in Russia.