Putin ordered to introduce a tax deduction for investments in education – RBC

Russian President Vladimir Putin instructed the government and the Russian Union of Industrialists and Entrepreneurs (RSPP) to amend the legislation on tax deductions for investments in secondary vocational education. The approved list of instructions based on the results of the RSPP Congress published on the Kremlin website.

The investment tax deduction will affect investments in the development of educational organizations in the regions of the country, if such institutions implement programs of secondary vocational education (SVE).

The government and the public organization must fulfill the order by April. Russian Prime Minister Mikhail Mishustin and head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin have been appointed responsible for its implementation.

A tax deduction is an amount that reduces the amount of income from which a citizen is required to pay tax. In some cases, this term means the return of a part of the previously paid personal income tax (PIT).