Donated Properties
In 2005. the Federal Act, which radically altered the existing system of levying tax on property transferred by inheritance or as a result of the contract of donation. The Act of July 1, 2005 N 78-FZ "On recognition of invalid some legislative acts (provisions of legislative acts) of the Russian Federation and amendments to some legislative acts of the Russian Federation in connection with the abolition of taxes on property rolling through inheritance or donation "entered into force on 1 January 2006. Its essence lies in the fact that the legislator has established new approaches to taxation of property transferred by inheritance or donation to a specific part of the subject composition, which are the only taxpayers – individuals. Federal Law N 78-FL provides that a January 1, 2006 property tax, which will go individuals by way of inheritance or donation contract is governed by Chapter 23 of the Tax Code, "Tax on income of natural persons", in turn, the Law of the Russian Federation of December 12, 1991 N 2020-1 On succession tax, gift "(hereinafter – the Law N 2020-1) cease to have effect from 1 January 2006, the Federal Law N 78-FZ provides for two types of transfer of ownership of property – in order gift and by inheritance. In the taxation of property transferred by inheritance, the Federal Law N 78-FZ, found that the value of inherited property to individuals will not have to pay tax on personal income. Stated generally recorded in paragraph 18 of Art. .