The Russian Ministry of Finance has announced significant changes in the taxation of digital currencies:

⚫ VAT Exemption: Transactions involving digital currencies will be exempt from Value Added Tax (VAT).

⚫ Income Tax: Income derived from digital currency operations will be taxed at the same rate as income from securities transactions. Therefore, the maximum Personal Income Tax (PPH) rate on such income will not exceed 15%.

⚫ Non-Resident Tax Rate: For non-residents of Russia, the tax rate is higher—30%. A tax resident is defined as an individual who spends at least 183 days in a 12-month period in Russia.

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