Official: housing will be allowed to be sold without personal income tax after three years of ownership

Those who have owned housing for three years can be exempt from personal income tax when selling real estate. They want to reduce the minimum tenure of an apartment from five to three years. Such amendments were proposed to be introduced into the Tax Code by the head of the State Duma Committee on Labor, Social Policy and Veterans Affairs Yaroslav Nilov, reports TASS. The agency has the text of the bill at its disposal.

According to the amendments, the minimum period of ownership of real estate will be three years. According to current legislation, this period is five years. If the owner received housing by inheritance or as a gift from a close relative, the minimum period of ownership of the property will be one year, according to the explanatory note to the document. Now such real estate can be sold tax-free after three years of ownership.

It is also proposed to reduce the minimum tenure of housing from three to two years in a number of cases: if the property was obtained as a result of privatization, under a lifelong maintenance agreement with a dependent, or from a personal fund.