The period for the preparation of personal income tax returns for 2024 for individuals in the Russian Federation is approaching. The deadline for filing a declaration is 30 April 2025. In this article we recall the rules for the taxation of various types of income for personal income tax purposes.

Please note that the taxation rules apply to income received in 2024 without taking into account the changes introduced by the tax reform. Such changes apply to income received from 1 January 2025.

The Federal Tax Service of Russia has approved a new List of States (Territories) with which the Russian Federation conducts automatic exchange of financial information (hereinafter referred to as the “List”). The new List has been significantly reduced, and all member States of the European Union have been entirely excluded from it.

On July 10, 2024, a new Federal Law amending the Russian Tax Code was adopted. This law introduces significant changes to the personal income tax (hereinafter – PIT), which will now depend on the amount and type of income. The adopted law also includes several other important changes, discussed below.