In Russia in the near future to abolish the personal income tax upon the sale of economy-class in 2020, predicted the expert. The seller will not have to pay tax provided that until the end of the year, he buys a house in the primary sector, or within a year buys a house, participating in the program of preferential mortgage. About the Agency “Prime” said a leading lawyer United law center “Parthenon” Pavel Utkin.
He noted that a similar initiative in the Ministry of construction and Ministry of economic development recently asked the representatives of the Russian popular front (onf). “The initiative might find support in the government. The abolition of personal income tax on real estate sales, tenure of which is less than three (five) years, would be a great help for people who would like to improve their living conditions”, — said the expert.
Utkin added that many young families would be happy to improve living conditions, but they stop the need to pay personal income tax. Furthermore, the recovery in the housing market can stimulate other sectors of the economy: construction and repair, and furniture production.
In case such measures will be, they will act before the end of the year or until mid-2021. This benefits both citizens and the state, said the expert. Thus, he explained, the economy will be able to quickly recover after the epidemic of the coronavirus.
Earlier, Russians promised reduction of rates on mortgages to 7.5 percent to the end of 2020. According to the CEO of a financial institution “House.Russia” Vitaly Mutko, the mortgage program seriously support the primary housing market.