Proceeds from the sale of a car are considered the same income of a citizen as everyone else, therefore, according to the Tax Code, personal income tax (NDFL) is levied on it. However, this tax is not collected in three cases, said Alexander Andropov, head of the tax practice of the BVMP law office.
“The simplest option is to own the car for more than three years. The period is counted from the date of conclusion of the purchase and sale agreement, and in case of inheritance – from the date of death of the testator. The second method is to apply a property deduction in the amount of 250 thousand rubles. If the car is sold for this amount or less, the tax base is reset,” Andropov explained to the Prime agency.
According to the lawyer, the third situation is when personal income tax does not need to be paid after the sale of a car, even if the three-year period from the date of its purchase has not passed – if the car was sold for the same amount or cheaper than it was purchased.
If the car was sold cheaper than it was bought, then there is no profit, that is, a taxable base on which the tax is calculated, Andropov pointed out. If the car was in the possession of a citizen for less than three years and was sold for more than it was purchased, 13% will have to be paid on the amount of profit (if the taxpayer’s annual income exceeds 2.4 million rubles – 15%) in the form of personal income tax.
Previously, the premiere date for the new Mercedes-Benz GLE, GLE Coupe and GLS crossovers was announced.
