Russia’s Lower House to Consider Bill on Crypto Taxation This Week
If passed the bill would amend tax laws to recognize digital currencies as a form of property.
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A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market for digital assets.
Russian Deputies to Review Law on Crypto-Related Taxation
The federal government of Russia has submitted to the State Duma a draft law introducing rules for the taxation of transactions involving cryptocurrencies. The bill will make the necessary amendments to Russia’s tax code to answer....
The bill proposes to recognize cryptocurrency as property for purposes of taxation.
Russia is turning to blockchain technology in an effort to counteract the economic isolation brought on by the sanctions imposed due to its invasion of Ukraine. The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in the Russian Federation. Some other services of digital asset exchanges will also be exempted, according to state-run news service RIA Novosti. In addition, the bill established income tax rates of 13% for Russian exchanges on the first 5 million rubles (currently about....
The State Duma, Russia’s lower house of parliament, has submitted legislation making it illegal to pay with cryptocurrency. The bill’s sponsors want crypto platforms to be tasked with preventing transactions that could promote digital asset payments. Russia May Still Ban Crypto A law proposed a week ago in the State Duma, Russia’s lower house of […]
Russia’s parliament has advanced the bill that proposes to recognize cryptocurrencies as property. The proposed law will provide legal protection for cryptocurrencies but income from their activities will also be subject to taxation. Cryptocurrencies to Be Considered Property in Russia Russia’s State Duma, the lower house of Parliament, adopted a bill that recognizes cryptocurrencies as property and subjects income from them to taxation in the first reading, RIA Novosti reported last week. Noting that the document was submitted to the parliament by the government on Dec. 1,....