Taxation of miners in Russia will be carried out in the same manner as other businesses and will depend on the form of their registration. This was stated by Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, writes «Коммерсант».
According to him, lawmakers regard mining as one form of entrepreneurial activity, so the tax rates for it will apply “as for everyone”.
They may set either the analogue of a single imputed income tax—from 7% to 15%, or a profits tax—20%.
“If the tax is on imputed income, then the form of business registration is entrepreneurship without a legal entity. All within the tax system. And if the miner is registered as an IP, then they will pay as an IP,” explained the deputy.
Aksakov added that the bill regulating mining is at the government’s review stage.
The document has been registered with the State Duma of the Russian Federation since mid-November 2022. It obliges individuals and legal entities to report to the tax authorities on mined cryptocurrencies, indicating the address to which the proceeds are credited.
Due to the need for additional approvals, the consideration of the bill was postponed to 2023.
Read ForkLog’s bitcoin news in our Telegram — cryptocurrency news, prices and analysis.