😱 Russia🇷🇺: The State Duma approved a law on cryptocurrency taxes

😱 Russia🇷🇺: The State Duma approved a law on cryptocurrency taxes

Cryptocurrencies have been recognized as property, and specific details regarding taxation and other aspects have now been announced here. It is important to note that “property” refers to digital assets used as payment methods in foreign trade contracts.

Key Points of the New Legislation:

➡️ Cryptocurrency transactions will NOT be allowed to operate under the patent regime or the self-employed tax regime.

➡️ Cryptocurrencies will be assessed based on their market value.

➡️ Miners will be required to inform tax authorities about who is using their facilities to mine cryptocurrencies. Violations will result in fines of up to 40,000 RUB.

➡️ Income from cryptocurrency mining will be subject to a two-tier personal income tax (PIT) scale:
🔴13% for income up to 2.4 million RUB.
🔴15% for income above that threshold.

➡️ The effective date for determining mining income will be when the user gains the right to dispose of the cryptocurrency.

#news #Russia #crypto

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