IMNS informs

1. Trade, public catering, and household services in rural areas are once again subject to preferential tax regimes

For business entities engaged in such activities, from 01.01.2024 to 31.12.2028, the tax exemption on real estate and land payments has been reinstated, and a reduction by half of the corporate income tax rate (for organizations) or personal income tax rate (for individual entrepreneurs) is provided regarding assets and profits (income) from sales.

The lists of settlements and territories subject to tax benefits will be established by regional Councils of Deputies.

2. Standard tax deduction for young specialists – application features.

As of January 1, 2024, young specialists are entitled to a standard personal income tax deduction of 620 rubles per month. The "young specialist" status remains valid for the duration of the mandatory employment period upon assignment (reassignment).

The right to claim the deduction may be exercised not only by graduates who were assigned (or reassigned) to a place of work (service), but also by graduates – "self-funded students", who obtained full-time education at their own expense in full or in part (when personal funds covered more than half of the study period) and were directed, at their own request, to job positions remaining after the assignment process.

The deduction for young specialists is granted for the statutory period of mandatory employment with the employer upon assignment (reassignment) and the period of continued employment with the same employer, but for no more than 7 years from the date of hiring by this employer. In other words, the right to receive a deduction of 620 rubles per month (including the period of continued employment up to 7 years) is available only to individuals who, as of January 1, 2024, and subsequently, qualify as young specialists.

Please note that this deduction is cumulative with other standard deductions.

3. Natural persons – subjects of agroecotourism have the right to engage employees under labor and (or) civil law contracts.

In this regard, the Polotsk District Inspectorate of the Ministry of Taxes and Duties draws the attention of citizens who received income from individuals who are subjects of agroecotourism in 2023 to the necessity of declaring these incomes. An income tax declaration (calculation) must be submitted to the tax authority no later than April 1, 2024.

At the same time, for income received from providing services on which the professional income tax or unified tax was paid, it is not necessary to submit a declaration.