The law on tax deduction for sports entered into force

In Russia, a law entered into force introducing a deduction for personal income tax when spending on health and fitness services. Under the new law, this fitness deduction will apply to income earned by taxpayers starting January 1, 2022.

Chairman of the State Duma of the Russian Federation Vyacheslav Volodin noted that there are already tax deductions for treatment, education, charity, for the purchase of real estate, there are deductions for entrepreneurs. All of them, according to him, stimulate the development of the economy, have a positive effect on the quality of life. “The tax deduction for health and fitness services is the cost of the health of our citizens. Its appearance suggests that the state equates such expenses with socially significant ones, ”said Viacheslav Volodin.

The tax deduction for sports can be obtained for the services of organizations and individual entrepreneurs included in the corresponding list of the Ministry of Sports, formed on the basis of data provided by the regions. The procedure for maintaining this list and the criteria for including organizations and individual entrepreneurs in it will be determined by the Government of the Russian Federation.

To receive a deduction, the taxpayer will have to provide documents confirming the actual costs of paying for sports and recreation services. This is a copy of the contract and a cashier's check. You can get a deduction as follows: apply for a deduction to the employer, and then he can temporarily stop withholding 13% of your income until the deduction is exhausted, or monthly reduce the taxable base by the amount of the deduction.

Tax deductions cannot be applied by individuals who do not have taxable income, for example, unemployed people who have no other sources of income other than state unemployment benefits.

The tax deduction for sports will be provided in the amount of actual expenses incurred, but not more than 120 thousand rubles. per year in conjunction with other social deductions. Thus, fitness lovers will be able to return no more than 15.6 thousand rubles.