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Owners Of Vehicles Purchased Under The Social Programs Of The Ministry Of Industry And Trade Will Not Pay Personal Income Tax

 Published Federal Law No. 335 of November 27, 2017, which exempts owners of cars purchased under the social programs of the Ministry of Industry and Trade "First Car" and "Family Car", from paying a personal income tax on a 10% discount provided by the state.

Taking into account the social importance of both programs, the Ministry of Industry and Trade of Russia in advance initiated changes to Article 217 of the Tax Code of the Russian Federation in order to avoid taxation of individuals who enjoy preferential car loans "First Car" and "Family Car-

said the Minister of Industry and Trade of the Russian Federation Denis Manturov.

As of November 19, more than 37,000 cars were sold in Russia under the "Family Car" program and more than 26,000 in the "First Car" program. Both programs will be continued from the beginning of 2018.

 

 

 

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