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Russian Finance Ministry considers tax on income from cryptocurrencies

Russian Finance Ministry considers tax on income from cryptocurrencies

The government is discussing options for taxing cryptocurrencies and mining. This was announced by Ivan Chebeskov, head of the Financial Policy Department at the Russian Finance Ministry, at a круглом столе, devoted to the crypto industry.

According to him, this topic raises “really a lot of questions”:

“In general, it is assumed that digital currency will be equated to some kind of property. As property, it will be taxed if, for example, income is earned on that property. Just as you earn income on a security, — you bought a share for 100 rubles, sold it for 200. And from 100 rubles as an individual you would pay 13%.”

The authorities are also considering the need for a transitional period for crypto-industry participants to encourage citizens to declare their assets.

Chebeskov confirmed that the bill on regulating cryptocurrencies will be introduced on February 18.

Earlier the government supported the concept of regulating the crypto industry proposed by the Ministry of Finance.

The State Duma said that the personal income tax on the withdrawal of cryptocurrencies by miners cannot be less than 15%.

RACIB proposed another scheme of taxation.

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