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Exciting news!

Putin's big move!

The digital currency taxation law is officially out!

TASS reports shocking news! Russian President Putin has officially signed the law regarding digital currency taxation!

From now on, digital currency is recognized as 'property' in Russia! Even those innovative digital currencies used in foreign trade payments are no exception!

Mining and selling digital currency? Don't worry about value-added tax! However, miners need to pay attention, as your mining infrastructure must be reported to the tax authorities, or else a fine of 40,000 rubles will come knocking at your door!

Regarding personal income tax, the digital currency obtained from mining will be counted as physical income! How much income? The market decides! The tax rate is the regular progressive tax rate, but mining costs can be deducted!

Money earned from selling or circulating digital currency? The tax rate is divided into two brackets! Up to 2.4 million rubles, the tax rate is 13%; exceeding this amount, the tax rate is 15%! It's treated the same as income from securities and bank deposits!

Don't forget corporate income tax; digital currency mining is taxed at the standard rate! Starting in 2025, the tax rate will be 25%!

It seems that the legal status of digital currency in Russia is becoming more and more solid!

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