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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.

Tax Relief in Russia

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	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 50,000 a year.
Real estate purchase/mortgage interest.	Deduction of up to RUR 1 million. (once in a lifetime).
Monthly tax deduction RUR 400.	Up to a limited annual income.

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