The financier told about the abolition of personal income tax on employee benefits at the birth of a child
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- The financier told about the abolition of personal income tax on employee benefits at the birth of a child
Tax benefits for employee benefits at the birth of a child will be useful, but it is necessary to ensure that they are applied correctly. Mikhail Kosov, Head of the Department of State and Municipal Finance at Plekhanov Russian University of Economics, told about this on September 14.
The financier recalled that from January 1, 2026, companies will be able to pay employees up to 1 million rubles at birth, adoption of a child or establishment of custody, without withholding personal income tax and insurance premiums. Also, these costs will not be taxed for business either.
These changes are expected to have a positive impact on families, employers, and the labor market.
"With an amount of 1 million rubles, personal income tax savings will amount to 130-150 thousand rubles, depending on the rate, which is comparable to several average monthly salaries in a number of regions of our country," he told the Prime agency.
Kosov said that employers will find a new, more economical way to attract and retain staff, despite the initial costs. He stressed the importance of equal access to payments and transparency in the implementation of this measure through clear enforcement.
On September 12, Ekaterina Golubtsova, Associate Professor of the Department of State and Municipal Finance at Plekhanov Russian University of Economics, told the Prime agency that high interest rates on deposits that brought depositors a good income now mean that they will have to pay tax on this profit. According to her, the tax on income from interest on deposits is not withheld by the bank upon payment. Banks pay interest to depositors in full, without acting as a tax agent.
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