Standard tax deductions for families with children doubled
From January 1, 2025 in Russia increased monthly standard tax deductions for families with children - for the second, third and each subsequent child they have doubled, reported "RIA Novosti".
Thus, personal income tax deductions for the second child rose to 2800 rubles. Deductions for the third and each subsequent child now amounted to Br6 thousand. At the same time, the amount of tax deduction for the first child remained the same - Br1.4 thousand.
In addition, the limit of income up to which standard deductions are applied has increased. If earlier it amounted to Br350 thousand, then from 2025 it increased to Br450 thousand.
These measures came into effect after the Russian government made several significant amendments to the Tax Code in 2024. The draft amendments were prepared by the Ministry of Finance and took into account the ideas of entrepreneurs and deputies.
Earlier, on December 30, 2024, the head of Panfilov & Partners, lawyer Alexey Panfilov also told Izvestia that the main legislative innovations will come into force on January 1. He noted that with the onset of 2025, the minimum wage in Russia will increase to 22,240 rubles. According to estimates of the Ministry of Labor, the increase in the minimum wage will have a positive impact on the incomes of more than 4 million Russians. A new payment for pensioners over 80 years old and disabled people of the first group is also introduced. It will amount to Br1.2 thousand and will be indexed annually.
In addition, December 20, Minister of Labor and Social Protection of the Russian Federation Anton Kotyakov said at a meeting of the State Council on family support in the Russian Federation that the single child allowance will increase by 14.8% from January 1, 2025, the average size of the maximum benefit will be over Br17 thousand per month per child. He added that every third child in Russia receives a single allowance.
Переведено сервисом «Яндекс Переводчик»
