NDFL: abbreviation decoding

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

All taxpayers sooner or later think about what personal income tax decryption. It will help to understand what kind of payment is in front of us. The fact is that if you do not know the true meaning of the abbreviation, then it is difficult to understand what exactly the transfer of funds to the state treasury is for. More precisely, it is impossible. Tax issues in themselves are extremely important. Especially if you don't know what specific tax you're dealing with. Maybe you don't need to pay it at all? It is enough to know how to correctly decipher the personal income tax in order to understand this issue.

What is this

In fact, everything is extremely easy and simple. Personal income tax stands for "personal income tax". And it turns out that this transcript just characterizes our today's payment. Who exactly pays it? Individuals. Why are they listing it? With income.

In personal income tax decryption, as you can see, is very simple. And it is easy to remember it, and the general idea of our today's payment is deposited in the brain without problems. Personal income taxes are mandatory transfers from taxpayers. From themno one can hide. Only in exceptional cases. What can be said about this tax, if you specify it? What knowledge can taxpayers use?

Who pays

So we got acquainted with the definition of the term personal income tax. How to decipher this abbreviation? Personal income tax. That's what the name of this payment sounds like. But who is obliged to pay it?

As already mentioned, all taxpayers. But to be more precise, only those who have taxable income. You can say, any citizens who earn money. And it doesn't matter how - from the delivery of real estate, or its sale, or from official employment. If you have some income, then you will pay tax on it without fail, without exception.

In personal income tax decryption may also include the definition of income tax. This is the same. It implies the payment of funds in a certain amount, which are listed as your profit. We can say that a working person pays personal income tax, but housewives and the unemployed do not. There are no exceptions. There is only a small list of cases that do not require payment of tax after receiving the money.

Don't pay

So we figured out how personal income tax stands for. But only now I would like to understand what income is not subject to this payment. After all, there are exceptions. There are not many of them, but they do exist.

For example, income tax is not paid on gifts from close relatives. That is, if someoneit gives you money / real estate or makes a donation, while being close relatives, no contributions are needed. Otherwise, you will have to pay the due interest. By the way, individuals must give 13% of their profits. Here are some interesting rules in Russia.

In addition, inheritance from close relatives, as well as income from the sale of property owned for more than 3 years, is not subject to income tax. In fact, it's about selling. If you rent out a property, you will have to pay taxes on it. No more exceptions.

How much

In personal income tax decoding is extremely simple. We are dealing with personal income tax. Only now there is one very interesting point - the payment thereof. It has already been said that personal income tax is paid in the amount of 13% of the funds received. But there are exceptions. In addition, the procedure and terms of payments are established in Russian legislation. And they will have to be observed.

For example, the peculiarity of our today's payment is the size of it under certain circumstances. In general, personal income tax is 13%. But if we are talking about a treasure, for example, or a win, you will have to give the state 35%. And the surprises don't end there.

Foreign citizens also pay personal income tax. They are less fortunate in this respect. If a foreign citizen has income in the territory of the Russian Federation, he will have to pay as much as 30%. And nothing less. Quite a lot if you think about it. But such rules apply in the country. There are no exceptions and there cannot be.

Order and timing

Now we know what personal income tax is (the decoding of the abbreviation was given above). And what is the procedure for paying our today's payment? Are there any restrictions and deadlines? Of course they do.

What is it about? Income tax is usually declared. More precisely, you submit declarations of your income to the tax authorities. This must be done by April 30th. Moreover, the report will be for the previous year (for example, in 2013 you report for 2012). There are also tax due dates. Individuals must complete the payment by July 15. But most often they pay in advance.

What does this mean? The advance payment is made together with the filing of the tax return - until April 30th. A very popular technique that is used by many. You can just get rid of your debts once and sleep peacefully. But you shouldn't rush either. If it is not possible to make an advance payment, you have the right to wait until July 15 inclusive. Next will be the debt.

Deductions

In personal income tax decoding is extremely simple. But it cannot be said that in some cases taxpayers can receive a tax deduction. That is, to return 13% from the completed transaction. This possibility applies only to those who pay income tax.

You can get a refund for real estate transactions (including mortgages), as well as for treatment, training and the purchase of any goods. If you have minor children, you are en titled to a special deduction. It's called "Onchildren". Due to it, the tax base from which you pay personal income tax is reduced. A very useful thing.

All deductions are made in the tax authorities in the presence of an application, proof of spending, income taxed with income taxes, as well as other important documents. These include: TIN, SNILS, certificates of marriage / divorce / birth of children, accreditations and licenses, certificates of ownership of something. Declaration is also required. So remember: if you pay personal income tax, in some cases you can issue yourself a tax deduction. It's not that hard really!