Russian parliament approves tax break for issuers of cryptocurrencies

06/28 12:58

Russian lawmakers on Tuesday approved a draft law that would potentially exempt issuers of digital assets and cryptocurrencies from value-added tax. The draft law, approved by State Duma members in the second and third readings on Tuesday, envisages exemptions on value-added tax for issuers of digital assets and information systems operators involved in their issue. It also establishes tax rates on income earned from the sale of digital assets. The current rate on transactions is 20%, the same as for standard assets. Under the new law, the tax would be 13% for Russian companies and 15% for foreign ones. The draft must still be reviewed by the upper house and signed by President Vladimir Putin to become law.

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