October 18, 2021
2,100 Sber clients have filed online for life insurance tax deductions since the beginning of the year
October 18, 2021, Moscow – Over 2,000 holders of endowment and investment life insurance policies from Sber Life Insurance have since the beginning of 2021 filed for tax deduction using a service developed jointly by SberSolutions and Sber's Wealth Management unit.
The service Tax Deduction allows getting a partial refund of personal income tax paid on:
— medical and educational expenses, contributions to life insurance investment and endowment, individual pension plan and charity (social tax deduction) — up to RUB 15,600;
— payments made to individual investment accounts (investment tax deduction) — up to RUB 52,000;
— payments made for the purchase of housing and interest paid on mortgage (property tax deduction) — up to 260,000 for purchase of residential property and up to RUB 390,000 for interest.
It is necessary to register to use this service. Once registered, tax specialists will advise you on how to declare additional income, what types of deductions you are entitled to, what documents are required to apply for these deductions. The specialists will also fill out the appropriate form and help send it to tax authorities. People using the public services port can receive a personal income tax statement (2-NDFL certificate) automatically in their SberSolutions online account.
According to data from SberSolutions, from January to September 2021, the largest number of requests for a refund of tax deduction for Sber Life Insurance came from Moscow (58%) and St. Petersburg (15%). This service is also actively used by clients from the Samara and Rostov regions, Yamalo-Nenets Autonomous Okrug and Khanty- Mansi Autonomous Okrug – Yugra.
The optimal service package costs RUB 1,699, and the top one ("Maximum") costs RUB 3,499. In 75% of cases, clients get the "Maximum" package, which includes not only having the application form/declaration filled out by a consultant, but also the possibility of sending it to tax authorities via a mobile application.
Evgeny Shcheklanov, Managing Director of Sber Life Insurance:
«All clients with endowment and investment life insurance policies can receive a tax deduction of 13% of the amount of contributions, but not more than 15,600 rubles per year. Sber Life Insurance has for now issued about 800,000 endowment and investment life insurance policies for which a tax deduction is available. Getting this tax deduction on your own can be time-consuming. Our service allows doing this conveniently and quickly, and the best reward for the client will be to receive a tax refund from the government. Since the beginning of 2021, 2,128 of our clients have requested assistance from a tax consultant. The service undoubtedly shows great prospects for development as many of our clients do not even think about applying for tax deduction, thinking that it is difficult to get.»
The service Tax Deduction allows getting a partial refund of personal income tax paid on:
— medical and educational expenses, contributions to life insurance investment and endowment, individual pension plan and charity (social tax deduction) — up to RUB 15,600;
— payments made to individual investment accounts (investment tax deduction) — up to RUB 52,000;
— payments made for the purchase of housing and interest paid on mortgage (property tax deduction) — up to 260,000 for purchase of residential property and up to RUB 390,000 for interest.
It is necessary to register to use this service. Once registered, tax specialists will advise you on how to declare additional income, what types of deductions you are entitled to, what documents are required to apply for these deductions. The specialists will also fill out the appropriate form and help send it to tax authorities. People using the public services port can receive a personal income tax statement (2-NDFL certificate) automatically in their SberSolutions online account.
According to data from SberSolutions, from January to September 2021, the largest number of requests for a refund of tax deduction for Sber Life Insurance came from Moscow (58%) and St. Petersburg (15%). This service is also actively used by clients from the Samara and Rostov regions, Yamalo-Nenets Autonomous Okrug and Khanty- Mansi Autonomous Okrug – Yugra.
The optimal service package costs RUB 1,699, and the top one ("Maximum") costs RUB 3,499. In 75% of cases, clients get the "Maximum" package, which includes not only having the application form/declaration filled out by a consultant, but also the possibility of sending it to tax authorities via a mobile application.
Evgeny Shcheklanov, Managing Director of Sber Life Insurance:
«All clients with endowment and investment life insurance policies can receive a tax deduction of 13% of the amount of contributions, but not more than 15,600 rubles per year. Sber Life Insurance has for now issued about 800,000 endowment and investment life insurance policies for which a tax deduction is available. Getting this tax deduction on your own can be time-consuming. Our service allows doing this conveniently and quickly, and the best reward for the client will be to receive a tax refund from the government. Since the beginning of 2021, 2,128 of our clients have requested assistance from a tax consultant. The service undoubtedly shows great prospects for development as many of our clients do not even think about applying for tax deduction, thinking that it is difficult to get.»
PAO Sberbank is one of the largest banks in Russia and one of the leading global financial institutions. Sberbank accounts for about a third of the assets of the entire Russian banking sector. Sberbank is a key lender to the national economy and holds one of the largest shares in the deposit market. Sberbank's main shareholder is the Russian Federation represented by the Russian Ministry of Finance, which owns 50% of Sberbank's share capital plus 1 voting share. The remaining 50% minus 1 voting share is owned by Russian and international investors. Sberbank serves clients in 18 countries. The bank has an extensive branch network in Russia consisting of about 14,000 service points. The bank's foreign network consists of subsidiary banks, branches, and representative offices in the UK, USA, CIS, Central and Eastern Europe, India, China, and other countries. General license No. 1481 issued by the Bank of Russia for banking operations dated August 11, 2015 Official websites: www.sberbank.com (Sberbank Group site), www.sberbank.ru www.sberbank.ru. Sberbank completed its rebranding in 2020 and now offers private and corporate clients financial and non-financial services from the bank and Sberbank Group companies. Sberbank ecosystem today consists of a multitude of services for life, daily assistance in resolving pressing tasks for private clients and businesses. Sber ecosystem website: www.sber.ru.
Sberbank Life Insurance is a subsidiary of Sberbank specializing in risk, endowment and investment life insurance programs, part of Sberbank's Wealth Management unit. The insurance premiums collected in 2020 amounted to RUB 107 billion (according to data from OSBU). The company's assets as of December 31, 2020 amounted to RUB 551.9 billion with insurance reserves of RUB 484.4 billion. Russian life insurance market leader. Rating on the RAEX scale (Expert RA) - ruAAA. Official website: www.sberbank-insurance.ru
SberSolutions (formerly Intercomp) is the leading company in business process outsourcing and financial consulting in Russia and the CIS (RAEX ranking for 2020). We have been working with the largest Russian and international companies in all sectors of the economy for over 27 years, and we provide over 20,000 entrepreneurs with services for small businesses. We provide accounting and reporting services, HR and change management, legal and tax services, operational performance consulting, back-office outsourcing, technology solutions, IT consulting services, as well as security and business continuity services. We partner with global leaders in outsourcing and are part of Sberbank ecosystem. SberSolutions was established on the basis of Intercomp Group which was founded in 1994.
Sberbank Life Insurance is a subsidiary of Sberbank specializing in risk, endowment and investment life insurance programs, part of Sberbank's Wealth Management unit. The insurance premiums collected in 2020 amounted to RUB 107 billion (according to data from OSBU). The company's assets as of December 31, 2020 amounted to RUB 551.9 billion with insurance reserves of RUB 484.4 billion. Russian life insurance market leader. Rating on the RAEX scale (Expert RA) - ruAAA. Official website: www.sberbank-insurance.ru
SberSolutions (formerly Intercomp) is the leading company in business process outsourcing and financial consulting in Russia and the CIS (RAEX ranking for 2020). We have been working with the largest Russian and international companies in all sectors of the economy for over 27 years, and we provide over 20,000 entrepreneurs with services for small businesses. We provide accounting and reporting services, HR and change management, legal and tax services, operational performance consulting, back-office outsourcing, technology solutions, IT consulting services, as well as security and business continuity services. We partner with global leaders in outsourcing and are part of Sberbank ecosystem. SberSolutions was established on the basis of Intercomp Group which was founded in 1994.