Russians mining crypto pays at least 15 % taxes, companies-no less than 6 %, says the legislator-MINING BITCOIN messages
Russians mining crypto pays at least 15 % taxes, companies-no less than 6 %, says the legislator-MINING BITCOIN messages
private individuals who have cryptocurrency must expect a higher tax burden than companies working in the industry has indicated a high -ranking member of the Russian Parliament. While the extraction of digital currencies in Russia still has to be regulated, the authorities tend to recognize them as an economic activity, which will enable the government to tax mining profits.
profits from cryptocurrency mining in Russia can be taxed as securities
Personal income tax for individual crypto miners who deduct their profits into the traditional financial system must not be less than 15 %, according to the head of the industrial committee at the State duma Vladimir Gutenev recently explained. The legislator added that the minimum tax rate for companies or sole proprietors who deal with the characteristics of digital currencies should be at least 6 %.
Quoted from the Finmarket business news portal, said Gutev at a press conference that if cryptocurrencies in the Russian Federation are to be treated as securities, income taxes should be paid in the payment of the coins.
The MP referred to the mining bonuses that can receive both natural and legal entities. These payments for the handling of Blockchain transactions are credited to cryptocurrency wallets. Miners can convert the digital coins into Fiat currency.
The legal status of crypto mining and a number of other activities in connection with cryptocurrencies still have to be defined in Russia. There is currently a debate between government institutions to determine the regulatory approach of Moscow.
The central bank of Russia suggested A blanket prohibition of operations such as the output, the trade and that Deprass private digital currencies, which it calls "funds". However, the currency authority was found in it As the finance ministry, move other departments and Supervisory authorities have legalization under strict rules.
The Federal Government, which is on the side of the Ministry of Finance, has prepared a regulation timetable added to the document for the sector and mining. President Vladimir Putin recently highlighted Russia as mining location, while Industry observer This ban doubt coin characteristics is practically possible.
Russia's role in the crypto mining scene has increased since China has been tough against the industry in May last year. A study by the Cambridge Center for Alternative Finance ranks Russia in terms of the mining capacity in third place to the United States and Kazakhstan. In August 2021, over 11 % of the global Bitcoin Hashrates accounted for the high-energy nation.
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