Tax deduction for young professionals

Parliamentarians Galina Antyufeeva and Oleg Petrik proposed a legislative initiative that would allow young teachers employed in educational organizations without specialized education to receive a tax deduction, provided that this tax deduction was not previously provided. This initiative was considered at the meeting by the Committee on Economic Policy, Budget and Finance.

The legislative initiative was prepared by parliamentarians based on an appeal from the public organization “Civil Initiative,” which proposed amending the law “On Personal Income Tax” and expanding the “young specialist” category to include persons engaged in teaching activities. As an example, the authors cited law school graduates who today teach social studies at school, but do not have the right to a tax deduction as a young specialist. This initiative was prepared to secure young staff in the school.

If education allows you to teach, then the young specialist should receive a tax deduction, the authors consider. The innovation will affect not only schools, but also other educational institutions. However, the details will be finalized during the second reading. The law-in-draft will be considered by parliamentarians at one of the next plenary sessions in the first reading in the meantime.

It is expected that amendments to the law “On Personal Income Tax” may come into force on January 1, 2025.