The authorities are preparing a gift for Russian mortgagers, the expert said.

The authorities are preparing a gift for Russian mortgagers, the expert said.

The authorities are preparing a nice new gift for Russian mortgage borrowers: to get a tax deduction for buying a home, you no longer have to collect any documents and fill out a tax return, it will be enough just to apply on the website of the tax service, told RIA Novosti chief tax adviser law firm Tax Compliance Yuliya Pavlova.

Every Russian has the right once in a lifetime to receive a property deduction when buying a home - up to 2 million rubles in respect of the cost of real estate and another 3 million - for mortgage interest. That is, you can get back a maximum of 260 thousand rubles of taxes for the purchase of an apartment or house, and up to 390 thousand rubles - for the interest paid on the loan.

"However, in practice the collection of documents to obtain these deductions often created difficulties," says Pavlova. People had to fill out a tax return and submit documents to the tax inspectorate confirming their official income, ownership of the housing, the loan agreement and copies of payment documents. "Often, when filling out the declarations on their own, people made mistakes, which further delayed the deadlines," - says the expert.

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Yulia Pavlova

Major specialisations

Construction, FMCG

Chief Tax Consultant

Biography