On November 26, the State Duma passed a law on the taxation of digital currency in both the second and third readings, as reported by TASS.
Cryptocurrency is now recognised as property. The tax base is determined by the excess of the asset’s value over the costs of its purchase or mining.
Individuals selling cryptocurrency will pay personal income tax at a rate of 13-15%. Legal entities will be subject to a 20% profit tax, which will increase to 25% in 2025.
Mining and asset sales are exempt from VAT. Additionally, services provided by an authorised organisation facilitating digital currency transactions within the experimental legal regime (ELR) are also tax-exempt.
The operator of mining infrastructure is required to report its activities to the FTS. Failure to comply results in a fine of 40,000 roubles.
The self-employment regime and simplified taxation system do not apply to mining or the buying and selling of assets.
On November 29, Russian President Vladimir Putin signed the tax law. The document has been published and has come into effect, with certain provisions excepted.
The original bill on cryptocurrency transaction taxation was prepared in 2020 and passed its first reading in February 2021. Work on it resumed in autumn 2024 following the implementation of mining regulations.
On November 15, the Russian government approved new amendments to the document.