“The Ministry has proposed to remove donalogue for car buyers in the targeted state programs

– The Ministry of industry and trade of the Russian Federation initiated amendments to article 217 of the RF Tax code that will allow you to avoid taxation of natural persons in the framework of social programs “First car” and “Family car”.

According to the report of the Ministry, the owners of the cars purchased in the framework of social programs of the Ministry of industry and trade, will be exempt from paying additional tax. “These changes have been agreed with the Finance Ministry in working order and needs to be taken when considering the changes of the Tax code of the Russian Federation in the State Duma”, – noted in the Ministry of industry.
Information on contracts concluded under the programmes participating banks as tax agents in accordance with the Tax code of the Russian Federation will provide to FNS prior to 1 April 2018.

The Ministry indicate that as at October 15, were sold in Russia about 30 thousand cars under the program “Family car” and 24 thousand in the framework of the program “First car”.

Thus, according to the report, “the program was popular, as a significant number of young families and novice drivers took advantage of the favorable conditions for a new Russian car”. The Ministry reminds that due to the high demand of the program will be completed in early 2017, the date of completion of implementation of programmes in 2017 each Bank-participant of the program will be determined individually. These programs will re-act from the beginning of 2018.

Earlier Wednesday, the newspaper “Kommersant” with reference to the letter of the Ministry of Finance announced that buyers who have benefited from targeted government programs to support demand for cars, have to pay personal income tax on the income in the form of a ten percent discount on the cost of the vehicle purchased within the state program of preferential car loan. This discount is part of a new version of the program from July by product “Family car” (for families with two or more children) and “First car”, in the context of programs about the personal income tax does not say anything.

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