Table of contents:
- How personal income tax will be calculated in a new way
- From what income you will have to pay 15% of personal income tax
- How to pay tax under the new rules
2023 Author: Malcolm Clapton | [email protected]. Last modified: 2023-05-22 06:26
Most Russians will likely never face this “tax for the rich,” but it doesn't hurt to be aware of the changes.
From January 1, 2021, the personal income tax rate increases on incomes that exceed five million rubles. The corresponding law has passed all instances and signed by President Vladimir Putin. The life hacker understands how the regulation will work.
How personal income tax will be calculated in a new way
Some people mistakenly believe that if the income is more than five million a year, then 15% will have to be paid from the entire amount. This is not true. The increased rate will be valid for the excess amount. That is, if a person receives less than the threshold amount, then he pays personal income tax of 13%, as before. If more, for example 5, 4 million, then from 5 million he will have to give 13%, but from the excess of 400 thousand - already 15%.
If we talk about the salary, then you need to receive at least 416,700 rubles a month to fall under the law.
But salary is not the only type of income to which the innovation applies.
From what income you will have to pay 15% of personal income tax
The list includes income:
- from equity participation, including in the form of dividends of a foreign organization;
- in the form of winnings in gambling and lotteries;
- on operations with securities;
- from participation in an investment partnership;
- on REPO transactions (a type of transaction when, when selling securities, an agreement is simultaneously concluded on their repurchase at a predetermined price);
- in the form of the profit of a foreign company;
- on operations of a loan with securities;
- for transactions on an individual investment account;
- in the form of the main tax base, which will include income from which 13% of personal income tax was usually paid, for example, money received under an employment contract and civil contracts or in the course of entrepreneurial activities using the general taxation system.
For non-residents, that is, those who have spent less than 183 days a year in Russia, income from the sale of real estate or upon receiving it as a gift will also fall under the law.
For residents who sell apartments or cars and receive expensive gifts, the old rules apply - they pay 13% of their income, and even then not always. Insurance payments under insurance and pension agreements are also not covered by the law.
The above types of income - the so-called tax bases - are counted separately. But when determining the excess of the threshold value for calculating personal income tax, they are summed up. In other words, your income will be added together to find out how much you earned in total. But this will only be done from 2023.
The next two years, 2021 and 2022, will be a transitional period when tax bases will be taken into account separately. That is, you can earn 4, 9 million and win the lottery 4, 9 million and still pay 13% from both amounts. From 2023, they will be counted as a total income of 9.6 million with an excess of 4.6 million.
An important point: the totality of tax bases will be assessed after all deductions have been applied. For example, the income was 5.1 million. But you have the right to a social deduction in the amount of 120 thousand rubles. Then the total amount of earnings will be 4.98 million - the threshold has not been exceeded.
How to pay tax under the new rules
In most cases, personal income tax is transferred without active efforts on the part of the taxpayer. This is done by the tax agent. If you receive a salary, the employer makes the deductions for you: up to 5 million - at the rate of 13%, after - 15%. If you win the lottery, the tax will be paid by the organizer.
If there are several tax agents, then first they will all pay 13% of your income, and then the tax office will calculate the missing amount and send a corresponding notification.
In some cases, you will have to declare income yourself. How and when to do this, a separate Lifehacker instruction will help you figure it out.