Employers' payments for childbirth will be exempt from tax, Putin said

Companies will be able to pay their employees up to 1 million rubles tax-free at the birth of a child. President Vladimir Putin announced this at today's meeting of the Presidential Council for Strategic Development and National Projects.

Previously, the amount of such payments was up to 50,000 rubles, the president noted.

"A corporate demographic standard was introduced this year. It allows for greater business participation in achieving demographic goals. Thus, starting January 1 of next year, the amount employers can pay employees at the birth of a child will increase, and it will be exempt from personal income tax and insurance contributions. It will amount to up to one million rubles," the head of state said.

Author: Alfiya Agliullina