The notary told about the taxable gifts
Notary Maria Kornilova said on September 29 that gifts in the form of real estate, cars or shares are subject to personal income tax.
"There are gifts for which it is necessary to pay taxes. These are real estate, vehicles, stocks, shares and units, digital financial assets, as well as digital rights that simultaneously include digital financial assets and utilitarian digital rights," she told the Prime agency.
Kornilova clarified that the tax amount is calculated by multiplying the tax base (market value of the gift) by the tax rate. According to her, the real estate tax is calculated based on the cadastral value. However, this rule does not apply to gifts from close relatives, including parents, spouses, grandparents, children or grandchildren.
In addition, Kornilova added that from January of this year it will be mandatory to arrange a gift from a notary.
Ekaterina Nozhenko, a lawyer at the European Legal Service (EUS), said on September 27 that the law provides for a ban on the sale or restrictions on the sale of certain categories of goods, therefore, despite attractive discounts, the purchase of such goods is undesirable.
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