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In Russia, there is a proposal to exempt crypto exchanges from VAT. The bill suggests expanding the list of transactions exempt from value-added tax under Article 149 of the Tax Code of the Russian Federation. It is planned to include services of digital depositories and organizations that conduct digital currency exchanges. Licensing fees for software are not eligible for the exemption.
It is also proposed to exempt certain related services from VAT, such as those associated with the issuance and circulation of digital currencies. The list will be determined by the Ministry of Finance.
Income for such organizations will still be subject to corporate income tax. The bill aligns with the current regulations for professional securities market participants in Articles 298 and 299 of the Tax Code of the Russian Federation. Taxable items include:
- commission income;
- income from holding digital assets;
- intermediary revenue;
- other operational receipts.
The introduction of special preferential rates for cryptocurrency transactions is not planned — they will remain within the standard tax regimes.
For individuals, separate tax rules are proposed. Tax will be levied on profits from the sale or exchange of digital assets. The tax base can be reduced by documented expenses, including costs for acquiring cryptocurrencies and commissions.