President Vladimir Putin signed a law exempting some Russians from paying personal income tax (PIT). Relevant document published on the official portal of legal information.
According to the new rules, citizens who have received income within one million rubles from the sale of residential real estate and within 250 thousand from non-residential real estate are exempted from filing a 3-NDFL declaration.
Income can be calculated in the amount of the entire transaction amount (if the property was donated and then sold) or in the form of the difference between the sale and purchase prices.
The previous procedure prescribed the payment of personal income tax in the amount of 13 percent of the profit received from the sale of real estate. This can be avoided provided that the property has been in the property of the payer for five years (or three if it was presented to him or received by inheritance).