What changes in obtaining tax deductions were discussed at the Research Institute

Purpose
The purpose of this update is to inform taxpayers, specifically those residing in Moscow, Russia, about the deadlines for submitting tax returns and the changes to social tax deductions. The announcement aims to raise awareness among individuals who are required to file a tax return by April 30, 2025.

Effects on Industry
This update has immediate effects on the taxation industry, particularly for taxpayers who need to submit tax returns by the specified deadline. It also impacts individuals claiming social tax deductions, as they must adhere to the updated maximum expense limit of 150,000 rubles starting from 2024. The changes affect businesses and consumers relying on these deductions.

Relevant Stakeholders
The relevant stakeholders include taxpayers who are required to file a tax return by April 30, 2025, including those receiving income from property sales, inheritances, bonuses, lottery winnings, and foreign sources. Additionally, individuals claiming social tax deductions, such as education expenses (КНД 1151158), medical expenses (КНД 1151156), sports-related expenses (КНД 1151160), voluntary personal insurance (КНД 1151159), and non-state pension provision (КНД 1151157) are affected.

Next Steps
Taxpayers must ensure they submit their tax returns by April 30, 2025. For those claiming social tax deductions, the next steps involve obtaining the required documentation (e.g., invoices for education or medical expenses) and applying these deductions within the prescribed timeframe. Failure to meet these deadlines may result in penalties.

Any Other Relevant Information
This update is part of a broader campaign aimed at raising awareness about taxation-related issues. The specific details provided serve as reminders for taxpayers, especially those who are subject to new regulations or stricter enforcement. It highlights the importance of adhering to tax laws and regulations to avoid potential consequences.