Submit the declaration for the year 2024 to whom and when?
2025 Tax Season Kicks Off!
Get ready, folks! January 1, 2025, marks the beginning of the 2025 tax filing season. This means you've gotta report your 2024 earnings by no later than April 30, 2025. But who needs to file the ol' Form 3-NDFL? Let's break it down:
- Folks who made a pretty penny from selling property they owned for less time than the legal minimum, and that ain't tax-exempt.
- Individuals who scooped up some money from transferring property rights (a fancy term for claiming something).
- Those lucky ducks who received gifts of real estate, vehicles, shares, or partnership interests from folks who ain't close relatives.
- Individuals who got paid by anyone or any organizations based on contracts or civil law agreements, including lease or rental income; we're talking about money from properties here, folks.
- People who won some dough from lottery operators, gambling game distributors, or organizers – up to 15,000 rubles – and winners from non-betting shop or tote betting games.
- You guessed it! Those who cashed in from sources outside Russia.
Now, for those of you filing a tax return 'solely' to claim tax deductions (standard, social, investment, or property deductions for real estate purchases), no worries – there's no strict deadline. You can file that puppy whenever you fancy, and you won't face any tax penalties.
And a heads up for residential building owners, starting 2025: It looks like you'll be paying some taxes, but the specifics about what and how much ain't clear just yet. Stay tuned!
For general insights into property taxation in Russia, here's the lowdown:
- Property Taxes: Russia's property taxes are usually lower than the average for OECD countries. As of now, there's no mention of changes to property tax rates for residential building owners starting from 2025.
- Income Tax: If you earn rental income from properties, you're subject to Personal Income Tax (PIT or NDFL). For Russian tax residents, the PIT rates are 13% on income up to 5,000,000 RUB and 15% on the amount exceeding this threshold.
- Tax Deferrals: Recent measures have included tax deferrals for certain sectors, such as tourism, with payment deadlines extended. However, this ain't specifically related to residential property owners, unless they're part of the tourism sector.
In summary, while there are no specific new tax requirements mentioned for residential building owners starting from 2025, existing tax frameworks, including property and income tax, continue to apply. Keep your eyes peeled for more details!
- Starting from January 1, 2025, those who won money from non-betting shop or tote betting games, regardless of the amount, should include it in their tax filing.
- As the new tax season kicks off in 2025, individuals who own rental properties and receive lease or rental income will need to pay personal income tax (NDFL) on those earnings.
- For business owners, leases and financial matters will be of importance during the 2025 tax filing season, particularly when it comes to reporting rental income.
- In 2025, residential building owners should be aware that they may need to pay taxes, even though the specifics about what and how much are yet to be announced.
