Russia to Launch New Tax Deduction for Long-Term Savings
As of September 1, 2026, Russians will be able to use a new tax deduction. It will apply to long-term savings in the form of contributions to voluntary life insurance contracts concluded since 2025.
Consensus
- The new tax deduction for long-term savings will take effect on September 1, 2026.
- The deduction applies to voluntary life insurance contracts concluded from January 1, 2025.
- The deduction is available for premiums paid for oneself or close relatives.
- The maximum deductible amount is 400,000 rubles per year.
- If the policy is for children, the maximum deductible amount increases to 500,000 rubbles.
- The refund amount depends on the taxpayer's income tax rate.
- Premiums paid for the taxpayer, spouse, children, or close relatives are included in the calculation.
- Taxpayers must have the status of a tax resident of Russia to qualify.
Points of divergence
- The new deduction will be available for contributions to long-term savings through voluntary life insurance policies, and it will be included in the updated 3-НДФЛ declaration form starting September 1, 2026. — vm
- The deduction is available for contributions made under contracts signed from 2025 onward, and these contributions will be treated as either social or long-term savings deductions at the taxpayer's choice. — vm
- The deduction applies to contributions made under voluntary life insurance contracts, which are considered part of long-term savings and are exempt from income tax. — vm
- Insurance companies invest these funds in the stock market and other income-generating instruments. — vm
- The deduction is available for contracts with a term of at least 10 years. — m24
- The deduction is available for contracts with a minimum term of 10 years. — vesti
- The deduction is available for long-term voluntary life insurance contracts signed from January 1,2025. — tg_rian_ru
Coverage (6 sources)
- New tax deduction will appear in Russia on September 1, 2026: who can receive it — Вечерняя Москва
- New tax deduction will appear in Russia from September 1 — РИАМО
- New tax deduction will appear in Russia from September 1 — Москва 24
- How to get a tax deduction for long-term savings — Вечерняя Москва
- Russians will be able to receive a tax deduction for long-term savings starting September 1 — Вести
- Russians will be able to receive a tax deduction for long-term savings starting September 1. — РИА Новости (Telegram)