🔥 The cryptocurrency world in Russia is not as wild as it seems! Although laws are gradually emerging, there are still things to consider. Here's what you need to know if you are a tax resident of Russia and own crypto:
📜 Is it possible to accept payments in crypto?
No! Payment for goods and services with cryptocurrency is prohibited for tax residents. Officially, crypto does not replace the ruble - and this is unlikely to change in the near future.
💰 Is crypto income taxable?
Yes! But only if you withdrew cryptocurrency into rubles. While your bitcoins, ethers and other tokens are in your wallet, you do not need to pay tax on them. Only at the moment of exchange for fiat (rubles), tax is paid on the difference. 🏦
🏠 Crypto as property?
Although courts sometimes recognize cryptocurrency as property, you don’t have to pay property tax on it! So you can sleep soundly – there will be no additional tax on your crypto wallet.
📊 How much tax should I pay?
For individuals:
🔹 Incomes up to 5 million rubles are taxed at a rate of 13%.
🔹 Income over 5 million rubles – at a rate of 15%.
For individual entrepreneurs:
🔹 General system – 13% (personal income tax).
🔹 Simplified tax system – 6% on “income” or 15% on “income minus expenses”.
For the self-employed:
🔹 If the income is subject to personal income tax – 13%.
🔹 If it is a NPF (for example, when mining) - only 4%! An easy option for those who are engaged in mining on a professional basis. ⛏️💪
For legal entities:
🔹 Standard rate – 20%. Income tax is stable.
🧐 Bottom Line: Invest Wisely
For now, cryptocurrency is in a "gray zone" in Russia. Therefore, it is important to be attentive to the legislation, monitor changes and, of course, pay taxes on time. After all, no one wants unnecessary questions from the tax office! 😅
💼 Enter the crypto world consciously - and remember that knowing about crypto taxes is useful for everyone who wants to earn money on a new financial instrument!
