The State Duma of the Russian Federation approved, in both the second and third readings, the закон on the taxation of operations with digital financial assets (DFA).
The services of organisations that will issue, supervise and account for the circulation of DFA are exempt from VAT, by analogy with securities.
When realising digital rights that include both security- and utility-tokens, the tax base is defined as the difference between the sale price and the acquisition price of the said digital right, taking into account the amount of tax.
The income tax for Russian-resident organisations that hold DFAs will be 13%; for foreign companies – 15%.
In April, the bill was introduced to the State Duma. In May, it was supported in the first reading.
The document does not concern cryptocurrencies.
In June, a bill to ban the use of DFA as a means of payment on the territory of the Russian Federation appeared. It has already been approved in the first reading.
Later, another document concerning DFA was submitted to the State Duma. It provides administrative liability for illegal issuance and exchange of such assets.
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