Tax incentives for the purchase of housing for young families

Article 8 of the Law "On Personal Income Tax" is supplemented with a new clause. It notes that the taxable income does not include the amount of state subsidies for loan payments and interest on the purchase of housing, which were provided at the expense of the budget under the state program to support young families. The corresponding law-in-draft was adopted in the final reading by the deputies of the PMR Supreme Council.

The Supreme Council of the PMR adopted the law "On state support of young families for the purchase of housing" in February 2020. Its main goal is to provide housing for young professionals who are in short supply in Pridnestrovie. So far, doctors, teachers, district inspectors, accredited employees of the penal system of the Ministry of Justice and officers of the PMR Defense Ministry participate in the program. Young families (the first five years after marriage) can apply for the subsidy, provided that one of the spouses has not reached the age of 35, and single-parent families.

The amount of the subsidy depends on the number of children. Families without children will be able to apply for a subsidy of 10 thousand dollars. Having one child entitles you to support in the amount of 12 thousand. A family with two children or more will be able to get $ 14000 for the purchase of housing.

The state subsidy is issued for 10 years. This income tax will not be charged, according to the amendments to the law on income tax adopted today.