The government has prepared a positive review of the draft law of the head of the State Duma Committee on Labor, Social Policy and Veterans Affairs, deputy head of the LDPR faction Yaroslav Nilov, which provides for exemption from personal income tax on compensation received by defrauded equity holders during the bankruptcy of the developer. Nilov announced this in his Telegram channel.
As noted in the recall of the Cabinet, cited by Nilov, the bill proposes to amend Article 217 of the Tax Code. These changes provide for exemption from personal income tax (PIT) from the compensation received by the taxpayer in case of bankruptcy of developers in accordance with the legislation of the constituent entities of the Russian Federation on the protection of the rights of deceived equity holders.
In the explanatory materials for the initiative, it is noted that participants in shared construction in case of bankruptcy of developers can receive compensation in the form of a real estate object in accordance with the laws of the constituent entities of the Russian Federation. At the same time, references to specific laws of the regions are not given.
“In this regard, the proposed tax benefit should be applied in the event of receipt of the appropriate compensation established by the law of the constituent entity of the Russian Federation, provided that the participant in shared construction does not have the right to compensation provided for by federal law,” the recall says.
In this connection, the Government proposed to work out this issue with the authorities of the constituent entities of the Russian Federation, since income from personal income tax is one of the main sources of income for the budgets of the constituent entities. Taking into account these comments, the Cabinet of Ministers supports this bill.
“Final touches – and we are preparing a draft law for submission. Following the approval of the Cabinet of Ministers, we expect the same from our colleagues in the State Duma, ”Nilov wrote, commenting on the review posted by him.
At the end of December 2021, State Duma Speaker Vyacheslav Volodin said that as a result of the laws adopted by the chamber, the activities of developers have become more transparent, housing has been protected from unlawful encroachments, and the concept of a “deceived interest-holder” is gradually becoming a thing of the past, but the problem still remains.
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