• February 28, 2024

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Russian Parliament Committee Supports Bill on Taxes on Digital Assets

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The State Duma Committee on the Financial Market has supported the adoption in the first reading of the concept of a bill on taxation of transactions with digital assets.

The department believes the adoption of the document stimulates the transparency of the circulation of digital assets, will take into account “their special economic and legal nature” in tax matters and will provide additional revenue to the budget.

The document explains the specifics of VAT for operations on the sale of digital assets, corporate income tax, as well as personal income tax regarding the profit and income of taxpayers from the sale of digital assets.