The Academy's social assistance Bureau informs students that the personal income tax has changed for students starting from January 1, 2020. The Federal law that entered into force amended paragraph 28 of article 217 of the Tax Code of the Russian Federation. Now students are exempt from personal income tax (pit) when receiving financial assistance in the amount not exceeding 4 thousand rubles per year. These are funds paid by an educational organization as financial assistance to needy students and postgraduates. The amount of financial assistance accrued during a calendar year in excess of 4 thousand rubles is still subject to personal income tax at the rate of 13%.
