The Russian government approved changes to the bill on taxing crypto transactions, imposing a 15% tax on transactions and mining
On November 19th, according to the International News Agency, the Russian government has approved a draft amendment to the bill on the taxation of cryptocurrency transactions and mining income and expenses. According to the proposed legislation, for tax purposes, cryptocurrency will be classified as property and mining income will be taxed based on its market value at the time of receipt. Miners will be allowed to deduct expenses related to mining operations from their taxable income. In addition, cryptocurrency transactions will be exempt from value-added tax, with transaction income subject to the same tax rate as securities trading income, and the highest personal income tax rate being 15%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Spot Margin Announcement on Suspension of DOG/USDT, ORDER/USDT, BSV/USDT, STETH/USDT Margin Trading Services
BGB holders' Christmas and New Year carnival: Buy 1 BGB and win up to 2026 BGB!
Bitget Trading Club Championship (Phase 20)—Up to 2400 BGB per user, plus a RHEA pool and Mystery Boxes
Subscribe to ETH Earn products for dual rewards exclusive for VIPs— enjoy up to 8% APR and share 30,000 USDT!
