🇬🇧 The Russian Cabinet of Ministers approved amendments to the draft law on mining, regulating the taxation of cryptocurrencies.

In brief:

✔️Cryptocurrency will be recognized as property with all the ensuing taxation algorithms.

✔️Income from cryptocurrency mining will be taken into account based on the market value at the time of its receipt in the wallet.

✔️It is possible to reduce profits by expenses related to cryptocurrency mining.

✔️Crypto transactions are exempt from VAT, but such income is equivalent to receiving profit from trading in securities, while the maximum personal income tax rate will not exceed 15%.

✔️Mining infrastructure operators are required to provide the Federal Tax Service with data on miners.

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