The State Duma has adopted a law on the regulation of digital currencies, which establishes tax rules for market participants. Cryptocurrency owners will have to report wallets and transactions to the FNS, and pay tax on income from asset sales.
The mere storage of Bitcoin and other coins is not subject to tax. The obligation arises after selling cryptocurrency at a profit: confirmed expenses for its purchase can be deducted from the amount received.
For individuals, a rate of 13% is provided for income up to 2.4 million rubles and 15% for the amount exceeding it. Organizations will pay corporate income tax.
At the same time, cryptocurrency will be recognized as property and will be subject to judicial protection. It will be allowed to buy and sell assets through licensed intermediaries, but it will still be impossible to use coins to pay for goods and services within Russia.
Read more on the topic:
- Cryptocurrency allowed by license: State Duma adopted rules for the market
- Banks are taking positions in cryptocurrency: Alfa-Bank joins the race for a new market
- Cryptocurrency Payments May Still Be Allowed: Russia Prepares First Exceptions