26.02.09

In a letter dated January 21, 2009, the Russian Ministry of Finance stated that individuals may save a little more on taxes in 2009 with increased deductions (N 03-04-06-01/5):

• The cut-off income for claiming Russia’s standard tax deduction of 400 rubles has been raised from 20,000 rubles to 40,000 rubles;
• The child tax deduction has increased from 600 rubles to 1,000 rubles per month. The deduction may be applied for every month until the income accrued since the beginning of the tax period rises above 280,000 rubles. This cut-off line is raise from its former level of 40,000 rubles.
  

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