Federal Law No. 63 FZ on Amendments to the Tax Code of the Russian Federation

04/15/2019, the Federal Law No. 63 FZ “On Amendments to Part Two of the Tax Code of the Russian Federation and Article 9 of the Federal Law“ On Amendments to Parts One and Two of the Tax Code of the Russian Federation and Certain Legislative Acts of the Russian Federation on Taxes and Fees ” is adopted .

The federal law for individuals engaged in entrepreneurial activities without forming a legal entity establishes the procedure for calculating the tax on personal income based on actual income received, professional and standard tax deductions.

In addition, the Federal Law clarifies the procedure for applying an investment tax deduction on corporate income tax in relation to expenses related to the creation of an infrastructure facility in the territory of a constituent entity of the Russian Federation or in the adjacent water area.

The federal law abolishes the obligation of taxpayers to submit tax declarations on transport and land taxes for tax periods starting from 2019, and also determines the procedure and grounds for discontinuing the calculation of personal property tax on taxable objects that have ceased to exist due to their death or destruction.

In accordance with the Federal Law, the taxpayer of corporate property tax, registered with several tax authorities at the location of its immovable property objects, is entitled to submit a single tax return for all such immovable property to one of the specified tax authorities of its choice, notifying the tax authority of the subject of the Russian Federat

In addition, the Federal Law for individuals with three or more minor children with regard to taxable objects owned by them provides for a reduction in the tax base of the property tax of individuals by the cadastral value of 5 square meters of the total area of the apartment, the area of the apartment, room and 7 square meters of the total area of a dwelling house, part of a dwelling house for each minor child, as well as a decrease in the tax base of the land tax by the cadastral value of 600 square meters of land.