No longer need to pay personal income tax on grants.
Today, Russia celebrates Volunteer Day. Earlier, President Vladimir Putin signed a law to expand support measures for volunteers. Accordingly, the Ministry of Economic Development of the Russian Federation has developed a procedure for exempting volunteers who are recipients of regional and local grants from personal income tax (PIT).
The new law will come into effect on January 1, 2024.
The law also provides for compensation for mandatory medical examinations or paid training for volunteers in cases where it is necessary to start volunteering activities. All supporting measures (informational, property-related, educational, grant-based, and many others) are consolidated on the platform DOBRO.RF. Volunteers can also create their own portfolios using this framework.
In the past year, the number of volunteers in our country has increased by 2 million people. Currently, this figure stands at around 12 million people.