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What is the tax on car sales?

Elena Minkina
Elena Minkina
August 16, 2012
What is the tax on car sales?

A car is a movable property. By selling it, you get income. And from any income received by an individual (by which we are all), it is necessary to pay our state a tax called personal income tax - a tax on personal income. Therefore, before you conclude a contract of sale, you should clarify what tax on the sale of the car you have to pay.

Now NDFL is 13%. That is, if you sold your car for 500,000 rubles, then the tax on the sale of the car will be 65,000 rubles. This is a pretty decent amount.

But do not worry, completely these 65000 rub. do not have to pay, because the state came up with such a thing as a tax deduction - today it is 250 000 rub. Therefore, the tax is calculated as follows: (500 000 - 250 000) * 13% = 32500 rubles - a tax on the sale of your car. You must pay it before July 15 of the year following the sale.

There are also cases where you may not pay tax at all:

  • You own a car for more than three years.
  • the cost of the car under the contract of sale is less than 250 000 rubles.
  • You sell the car for less than you bought it (for this, provide the previous and current sales contracts to the tax office).

Now you should be clear what tax on the sale of the car you have to pay and in what cases you will be exempt from paying tax.

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