Russian State Duma passes law allowing authorities to tax business transactions with cryptocurrencies.
Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities.
According to the document, quoted by the crypto news outlet Forklog, services provided by platforms that issue, control, and keep records of the movement of DFAs will be excluded from the scope of the value-added tax , just like with securities. Russian legal entities owning digital tokens will pay 13% on the amount of income received from them while foreign-based companies will be charged at a higher, 15% rate, the new tax provisions dictate, giving a slight advantage to local businesses.to the State Duma in mid-April and passed on first reading the following month. It was also approved by the parliamentary financial market and new legislation committees.
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