What is a tax deduction and how to get it? How does it differ from income tax refund? What types of tax deductions exist and who can get them? How many times can I get a tax deduction and where to apply? What documents will be required for this and how to properly issue them?
A tax deduction is an amount by which, if there are appropriate grounds, the tax base (income from which the tax is paid) is reduced. Only those Russian citizens who pay income tax at the rate of 13% have the right to make a tax deduction.
The Tax Code provides for a number of deductions that allow you to reduce your personal income tax base by the amount determined by law. To apply each of the deductions, it is necessary to fulfill the prescribed conditions.
The most important thing to know about tax deductions is that they can be claimed by a tax resident of the Russian Federation who receives income taxed at a rate of 13%.
- What is a tax deduction;
- Get a tax deduction;
- The main types of tax deduction refund;
- General principles of tax refund;
- Social tax deductions;
- Types of tax deductions;
- Property tax deductions.