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Russia Tax Exempt Income

The following forms of income are exempt from income tax:

Income from the sale of real estate and other assets that have been held for at least 3 years.
Income from interest that is received by an individual on deposits with a Russian bank, subject to certain conditions.
Severance pay.
Receipts from a pension and benefits from insurance plans.
Scholarships.
Individual's interest income from bank deposits, subject to terms.

TAX RELIEF

All forms of tax relief in Russia refer to the income of an individual.
Most relief is given in the form of a deduction from taxable income.
The following amounts are subject to the definitions in law.

Individual Relief	Amount - RUR
Contributions to recognized institutions Expenses for studies / education	Allowable to a limit of 25% of income. Allowable for the taxpayer or a dependent family member, up to a limit
Dependent family members	Up to a limit.
Employer's contribution to a pension fund	Exempt from tax up to an annual limit.
Medical expenses	Allowable to a limit of RUR 38,000 a year.
Real estate purchase	Deduction of up to RUR 1 million.

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