Income Tax Indulgence

A group of parliamentarians proposes to amend and supplement the law "On personal income tax". The initiative proposes to extend the deadline for paying additional tax accrued on tax returns to 180 days if its amount does not exceed 1 thousand minimum wages (10400 rubles). The law-in-draft was considered today in the course of the meeting of the Committee on Economic Policy, Budget and Finance.

According to the current legal norm, the declaration of income of individuals is carried out in order to account for their income and ensure that they receive standard, social, property deductions in full, the calculation and payment of income tax by taxpayers in full, as well as the elimination of double taxation. Tax returns on the income of citizens for the previous year must be sent to territorial tax inspectorates every year, no later than April 1. At the same time, if the tax authority decides to charge additional tax on tax returns, then it must be paid no later than 30 days later.

The law-in-draft authors, deputies Viktor Guzun, Vadim Kravchuk and Pavel Shinkaryuk, note that the norm needs to be expanded. Parliamentarians proposed to amend the law "On personal income tax" and allow citizens to pay additional amounts of income tax on tax returns in an amount not exceeding 1000 minimum wages (10400 rubles) within 180 days to avoid such a situation.

The legislative initiative received positive conclusions, including from the Government and the Ministry of Finance of the Pridnestrovian Moldavian Republic. The Committee on Economic Policy proposed to consider the law-in-draft in two readings at once. An amendment has been prepared for the second reading, which sets the date for the entry into force of the new norm of the law "On personal income tax" from January 1, 2025.

The Parliamentary Committee on Economic Policy, Budget and Finance will submit the legislative initiative to a plenary session of the Supreme Council of the Pridnestrovian Moldavian Republic for adoption in the first and second final reading in the near future.