Russia’s Ministry of Sports proposes tax breaks for parents of minors engaged in sports
MOSCOW, June 30 (RAPSI) – Russia’s Ministry of Sports has drafted amendments to the Tax Code stipulating tax benefits for parents paying for attending sports organizations by their children aged up to 18 years, a statement released on the Ministry’s website reads.
The bill gives parents of children engaged in sports activities social tax deductions for sports training expenses in the amount of up to 50,000 rubles (over $700) a year.
The legislative changes are aimed to involve minors in sports and sports organizations’ development, the statement says.
According to the official statistics, in 2019, over 1.8 million minors in the age from 5 to 18 went in for sports; including more than 64,000 engaged in sports on a paid basis.