Deputies of the State Duma voted in the second, decisive reading for the draft amendments to the Tax Code of the Russian Federation, which determine the procedure and features of taxation of operations with digital assets (DFA).
The bill being considered by the lower chamber specifies, among other things, the procedure for paying VAT, corporate income tax and personal income tax (PIT). Individuals’ income from operations with CFA will be taxed at a rate of 13%.
The tax on income of Russian companies owning digital rights is proposed to be set at the level of 13%, and if the tax base exceeds 5 million rubles per year – 15%. For taxation of income of foreign legal entities, a rate of 15% is proposed, regardless of the size of the base.
Value added tax will not be applied to transactions for the sale of digital assets in Russia. Also, the services of DFA exchange operators will not be subject to VAT, with the exception of consultations or services for granting rights to use specialized software.
In addition, the legislators proposed to oblige DFA exchange operators to provide data on all users who used the services of the operator to the tax office on a regular basis.
In June, Anatoly Aksakov, chairman of the State Duma committee on the financial market, introduced a bill to the lower house of parliament to punish the issuance of digital assets without the permission of the regulator.
Source: Bits
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