Cryptocurrency mining in Russia will be taxed in accordance with the current tax laws

Cryptocurrency miners and holders in Russia will be subject to taxation under the currently applicable Tax Code of the Russian Federation.

According to the Head of the State Duma’s Committee for Financial Market Anatoly Aksakov, standard income tax rate will be applicable to individuals involved in digital money transactions, whereas legal entities will be taxed depending on exact forms of business.

As noted by Aksakov, separate tax regimes for mining and cryptocurrency transactions may be established in the future, if the government comes up with such an initiative.

“If they decide to set separate tax regimes for these types of businesses, then it will be done. As of now, we do not cover any issues of taxation at all,” – he explained.

The adoption of the draft law on digital financial assets (cryptocurrencies) is scheduled for the next parliamentary session which is to start this autumn.

As reported earlier, the State Duma decided to postpone the adoption of cryptocurrency and crowdfunding regulation till September 2018.
https://en.bitnovosti.com/2018/07/18/cryptocurrency-miners-and-holders-in-russia-will-be-subject-to-taxation-under-the-currently-applicable-tax-code-of-the-russian-federation-according-to-the-head-of-the-state-dumas-committee-f/