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LETTER OF THE FEDERAL TAX SERVICE OF THE RUSSIAN FEDERATION

of November 2, 2012 No. ED-4-3/18611 @

Concerning receipt of property tax deduction on income tax

The Federal Tax Service concerning receipt of property tax deduction on income tax reports the following.

According to the subitem 1 of Item 1 of article 220 of the Tax Code of the Russian Federation the taxpayer in case of determination of the size of tax base on income tax has the right to property tax deductions in the amounts received by the taxpayer in tax period from sale, in particular, of apartments, rooms including the privatized premises, and share in the specified property, less than three years, but 1 000 000 rubles which are not exceeding in general which were in property of the taxpayer.

If two taxpayers have about 1/2 shares in the property right to the apartment belonging to them less than three years and on each share the certificate on state registration of the property right, then in case of sale by taxpayers of the shares according to the purchase and sale agreement in which each taxpayer acts as the seller of the share as independent subject to purchase and sale is drawn up, property tax deduction according to the income from such sale is provided to each taxpayer in the amount which is not exceeding 1 000 000 rubles.

The income amount exceeding the amount of the applied property tax deduction is subject to the taxation income tax in generally established procedure at the rate of 13 percent.

The specified line item is approved with the Ministry of Finance of the Russian Federation the letter of 16.10.2012 N 03-04-08/1-352.

 

Valid counselor of state of the Russian Federation 3 classes D. V. Egorov

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