Families were offered a year free from income tax after the baby is born

Families were offered a year free from income tax after the baby is born

MOSCOW, June 6 — RIA Novosti. The Deputy of legislative Assembly of St. Petersburg Vladimir Petrov proposed to exempt parents from paying personal income tax in the year after the appearance of a child. Appropriate treatment, the author of the initiative will be sent to the Ministry of Finance on 7 June, reports RT.

According to Petrov, this innovation can provide financial support to families, and, as a consequence, to stimulate the birth rate in the country. He noted that the income level significantly affects the reduction of growth rates of demographic indicators in Russia.

“It’s no secret that the first year after the child’s birth parents have it especially hard, so it is appropriate to pay close attention to this category of citizens and to develop additional support measures,” — said the Deputy.

Petrov also considers reducing the personal income tax rate by 2% for parents of two children, and for each subsequent child to reduce rates by another 1%. The result is families, which are 12 or more children will be fully exempt from this tax.

Earlier the President of Russia Vladimir Putin has signed a decree declaring the country a Decade of childhood and instructed the government within three months to approve the plan of main measures until 2020.