The Russian State Duma passes the first reading of the cryptocurrency tax reform bill

robot
Abstract generation in progress
Mars Finance News, June 10 — The Russian State Duma has passed a cryptocurrency tax reform bill in the first reading, submitted by the government, aiming to further clarify tax rules related to digital assets. According to the draft, the taxable basis for cryptocurrency transactions will be calculated based on the positive difference between income and costs, allowing investors to offset gains and losses from digital currencies and overseas digital rights assets within the same tax period. The bill also requires brokers and entrusted management institutions to withhold personal income tax in transactions involving cryptocurrencies and overseas digital rights, and to retain relevant transaction records for at least five years. At the corporate level, aside from cryptocurrency mining, income and expenses related to foreign trade involving digital assets will be included in the corporate income tax base, and overseas digital rights assets will be treated similarly to cryptocurrencies for tax purposes. Additionally, the Budget and Tax Committee of the Russian State Duma recommends further amendments in the second reading, requiring licensed cryptocurrency exchange platforms to serve as tax agents, directly withholding personal income tax when users buy and sell cryptocurrencies. If the legislation is ultimately passed, Russia’s digital asset tax regulatory system will be further improved.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned