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There are fewer life hacks for IIS
As new IIS types are introduced, some changes occur to existing accounts.
🔴From January 1, 2025, new conditions for writing off IIS donations will come into force. This means that the account must be valid all year round. The exception is the year the IIS was opened.
If you plan to replenish and close an IIS in 2025 and receive a deduction, the tax office will refuse to refund your funds.
Now this condition applies not only to IIS-3 (Article 219.2 of the Tax Code of the Russian Federation), but also to the previous IIS (Article 219.1 of the Tax Code of the Russian Federation).
Let us recall other conditions for receiving a deduction in IIS Type A.
✅Residence in the Russian Federation at the end of the year;
✅ You were at least 3 years old when your account was closed.
✅One IIS for the entire period of the agreement;
✅ Personal income tax can be applied at a rate of 13% or 15%, and from 2025 a progressive tax scale will be applied.
🔴 From January 1, 2025, the long-term holding benefit (LDV) will not apply to securities previously included in IIS. They will have a kind of "black mark". For traditional IIS, you can only deduct either contributions or profits received. There is no LDV in IIS, and this benefit only applies to brokerage accounts. However, when transferring securities after closing an IIS type A as a brokerage account, there was a loophole that allowed investors to receive two deductions. This life hack is still valid, but only until the end of the year.
👉 By the way, this year you can also choose which IIS deduction you want to use: “according to the old rules” or “according to the new ones”. If you change your mind about receiving a long-term savings benefit through an IIS, notify the tax office about it before April 30, 2025. After submitting an application, you can use either a type B deduction (tax exemption on all investment income) or a type A deduction. Applications are submitted in free form.