Russian gov’t approves new crypto taxation framework
Thu, Nov 28, 2024 6:11 PM

Russian gov’t approves new crypto taxation framework

A Flip by Shubhangi Gupta
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Russia’s Federation Council, the country’s upper house of parliament, has approved a federal bill introducing new taxes on cryptocurrency transactions. The legislation, approved on Nov. 27, recognizes digital currencies as property and imposes a 13%–15% personal income tax on cryptocurrency sales. It also exempts Russian crypto miners from value-added tax (VAT) on mined coins.

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