Speaking at the Mining.ru forum, Alexey Katyaev said that the first stage, called “advance payment for mined cryptocurrency,” occurs when digital assets are credited to the identifier address. The tax base begins to be calculated immediately after the miner receives the right to dispose of cryptocurrencies, even if they are in the pool and not moved to an individual address.
The second stage occurs after the cryptocurrency is moved from the ID address or when the asset is sold. If the cryptocurrency has become more expensive since the first payment of income tax, then you will need to pay tax on the missing income. If the cryptocurrency has become cheaper, the loss is indicated as a loss.
Mining will not be subject to VAT, since mined digital assets are not needed in Russia, and for companies working with cryptocurrencies in experimental legal regimes, a classic income tax will apply. For individuals, personal income tax will apply.
The head of the interregional inspection also spoke about what information the tax office will collect in the registers of mining infrastructure operators, the miners themselves and the mined cryptocurrency. All public information regarding registers will be presented on the Federal Tax Service website.
The register of mining infrastructure operators will include the name of the company, the location of its data center, where the company receives electrical energy and a list of clients.
The register of miners will contain information about who the miner is, what equipment is planned to be used to mine cryptocurrencies, how this equipment was imported into the Russian Federation, how many virtual coins are mined and the amount of electricity used.
As for the third register, which includes data on already mined cryptocurrencies and a list of identifier addresses, it will be closed both to employees of tax authorities and other departments, said Alexey Katyaev.
Earlier, Timofey Semenov, CEO of Intelion Data Systems, said that the Federal Tax Service will ensure control and transparency of mining in Russia, and will help completely eliminate gray imports of equipment.
Source: Bits
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