The Ministry of Finance has prepared amendments on exemption from personal income tax payments for children up to 1 million rubles

The Russian Ministry of Finance has prepared amendments to the Tax Code, according to which the amount of a tax-free corporate lump sum payment at the birth of a child can be increased to 1 million rubles. This was announced on April 3 by the press service of the department.

The changes were developed in accordance with the instructions of Russian President Vladimir Putin. Prior to this, it was not allowed to tax only a one-time payment of up to 50 thousand rubles.

"The Russian Ministry of Finance has prepared amendments to the Tax Code of the Russian Federation aimed at improving favorable tax conditions for families with children. The amendments provide for an increase of up to 1 million rubles per child in non—personal income tax and insurance contributions in lump-sum payments," the TASS department said.

It is explained that such payments include financial assistance paid to employees by employers during the first year after the birth or adoption of a child, as well as the establishment of custody.

Child benefits in April 2025: another payment date and the appearance of a new benefit

Child benefits will be credited twice in April, and the social pension will be increased by 14.75%

On March 27, Svetlana Bessarab, a member of the State Duma Committee on Labor, Social Policy and Veterans' Affairs, spoke about the scale of payments for large families and families with children. The MP noted that since 2007, more than 14 million families have received maternity family capital (MCI). In addition, families with more than 10 million children receive a single child benefit. Starting this year, working parents with two or more children form family payments from the paid personal income tax (personal income tax), which they will be able to receive in 2026.