The Ministry of Finance announced the creation of a special line of family investment instruments

The Central Bank of Russia together with the Ministry of Finance on the instructions of Russian President Vladimir Putin are working on the creation of a special line of family investment instruments. This was announced by Deputy Finance Minister of Russia Ivan Chebeskov on December 4.

"On the instructions of the Russian President, the Ministry of Finance together with the Bank of Russia are working on the creation of a special line of family investment instruments, including with an increased deduction of 1 million rubles," he said.

According to Chebeskov, family investment instruments will be based on the currently existing mechanisms, including individual investment account (IIS), long-term savings program (LSP), shared life insurance (SLI). At the same time, a single tax deduction of Br400 thousand is provided for them.

It is noted that the details of such tools and the timing of their launch will be worked out in the near future.

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Earlier in the day, the President of the Russian Federation during the VTB forum "Russia Calling!" proposed to work out a mechanism for a tax deduction for all family members in shared life insurance. As stated by the head of state, such a regulatory tool will increase the interest of potential investors to work together with the state.

Before that, on October 10, it was reported that in Russia are preparing new tax benefits for accumulation, investment and share life insurance policies (NSL, ISL and DSL). In the Central Bank of the Russian Federation explained that the relaxation may be similar to what is now in effect for individual investment accounts: exemption from income tax for long-term ownership of securities - from 10 years. At the same time, the Ministry of Finance is preparing amendments on tax deductions for IITs, which will work from 2025.

At the same time, Deputy Director of the Central Bank's Insurance Market Department Nikita Teplov told Izvestia that the Bank of Russia supports the introduction of a new benefit for long-term life insurance policies. At the same time, he said, it is not necessarily necessary to return what was there. For example, for individual investment accounts (IIS), there is a benefit that exempts from income tax after 10 years, he noted.