Who will have to pay income tax

What material benefit are we talking about?

According to the Tax Code, a material benefit is savingTax Code of the Russian Federation, article 212 "Features of determining the tax base when receiving income in the form of material benefits" on interest on a loan, which occurs if the interest rate on it is below ⅔ of the refinancing rate of the Bank of Russia (equal to the key) on the date of payment. It is considered income on which the corresponding tax is paid. According to lawmakers, the person did not pay extra money to the bank and earned on it. And if the usual rate personal income tax is 13%, then in the case of material gain it is equal to 35%Tax Code of the Russian Federation, article 224 "Tax rates".

On February 28, 2022, the Central Bank raised key rate more than two times up to 20%The Bank of Russia decided to raise the key rate to 20% per annum. In January 2022, the average rate on various loans for up to a year

wasInterest Rates on Credit and Deposit Operations of Credit Institutions in Rubles Central Bank 15.3%, long-term - 11.5%. And this means that the majority of Russian loans are taken at a rate below ⅔ of the key one. What caused concern: now we have to pay something else as a tax?

Spoiler: most likely not. But let's figure it out.

When do you need to pay income tax?

This will have to be done subject to one from conditionsLetter from the Tax Policy Department of the Ministry of Finance of Russia dated November 3, 2020 N 03-04-05 / 95889 On the taxation of personal income tax income in the form of material benefits from savings on interest for the use of borrowed (credit) funds:

• The loan is issued by the employer or company that lent the money and the recipient is recognized interdependentTax Code of the Russian Federation, Article 105.1 “Related Persons”. This criterion is met if, for example, the organization decided to reward the employee and gave him a loan at a very low interest rate. Or the founder of the company received a loan.
• If the savings is material assistance or counter-performance by the organization or individual entrepreneur of its obligations to the borrower. Let's say the customer gives the contractor a preferential loan for the fact that he provided him with some services or sold goods.

The rest can take a breath. But even if you fall under one of these conditions, you can not pay tax on material benefits when it comes to buying housing on a mortgage, which you can get tax deduction.

Do I need to file a declaration if I received a material benefit and must pay tax

If the loan was issued by the employer, then he mustTax Code of the Russian Federation, article 226 “Peculiarities of tax calculation by tax agents. The procedure and terms for paying tax by tax agents withhold tax on your own. If you are in another relationship with the company, for example, you have entered into an agreement civil law, but she is your tax agent, then this is also her responsibility.

But if the employer has not done this, the declaration still does not need to be submitted. Necessary waitFederal Law No. 396-FZ of December 29, 2015 “On Amendments to Part Two of the Tax Code of the Russian Federation”notifications from the FTS and pay tax on it.

Natalya Kopylova