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Giving and inheriting from now can be donated

June 15 2005

The State Duma passed the third reading of the law on the abolition of inheritance tax or gift tax.

"Russia has abolished inheritance tax. A tax on gifts purchased normal civilized, when close relatives or family members when they give something, are exempt from this tax," - said in connection with the deputy chairman of the Duma Committee on Budget and Taxes Andrei Makarov.

The MP also dubbed the law the "law for people." "We so seldom pass laws that relieve a person from the need to communicate with officials," - he said.

Moreover, the new law is broadly consistent with international practice, I am sure Makarov.

According to RIA Novosti.

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