The form of taxation of the mining bill is still being discussed, it is planned to establish either an analogue of a single tax on imputed income, where the rate varies from 7 to 15%, or an income tax of 20% . This is reported by Izvestia with reference to Anatoly Aksakov, chairman of the State Duma committee on the financial market.

The State Duma is discussing a tax on cryptocurrency mining from 7 to 20% – Izvestia

The deputy noted that thousands, if not tens of thousands of people are employed in the field of cryptocurrency mining, and many of them would like to legalize their business. Aksakov said that there are already companies and individuals who voluntarily pay taxes on cryptocurrency transactions. He is sure that mining companies are also applying and want to work in a legal environment.

The Finance Ministry also considers it fair to impose a tax on profits received from cryptocurrency mining, a ministry representative told the publication. They indicated that the Tax Code contains all the necessary provisions to tax the profits of this activity.

The mining bill was submitted to the State Duma in November, the amendments were to be approved at first reading in December 2022, but the document has not yet passed this stage. In the final form, it was planned to adopt amendments to the law “On digital financial assets, digital currency and amendments to certain legislative acts of the Russian Federation” at the second and third reading in January 2023.

As previously reported, the State Duma at the beginning of 2023 was also going to consider the possibility of adopting a bill on cross-border payments in cryptocurrencies. In the spring and summer, a Russian crypto exchange can be created so that the circulation of digital currencies goes through the Russian infrastructure.

Author:

anastasia mariana

Source: RB

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