The Russian Government submitted to the Parliament a bill on taxation of transactions with cryptocurrency. Should this bill be passed, the taxpayers will be liable to inform about the right to dispose of the cryptocurrency, including via third parties, and to report about all transactions involving cryptocurrency and its balances, if the amount of cryptocurrency credit or debit during a year exceeds an equivalent of 600 thousand rubles. Cryptocurrency will be assimilated to property. Circulation of cryptocurrency will be exempt from VAT.
|
NAZALI TAX & LEGAL |