A draft law on taxes on digital assets has been submitted to the State Duma

В A draft law on taxes on digital assets has been submitted to the State Duma

On April 14, the Cabinet of Ministers submitted to the State Duma a draft law on taxes on transactions with digital assets.

The document explains the specifics of VAT for transactions involving the sale of digital assets, corporate income tax, as well as personal income tax on profits and taxpayers’ income from the sale of digital assets.

According to the draft law, VAT will be levied on the services of operators of information systems in which digital financial assets (DFA) are issued, as well as on the services of operators for the exchange of digital financial assets for l admission of digital rights.

The financial result on transactions with DFA is determined on the date of payment of income separately for each transaction and for their entirety.

The tax base of transactions involving securities not traded on organized market securities may be reduced by the amount of the loss on transactions with DFA.

When exercising digital rights including security tokens and utility tokens simultaneously, the tax base is determined as the difference between the sale and acquisition price of the specified digital right, taking into account the amounts taxes.

Income tax for Russian organizations with digital rights will be 13%, for foreign companies – 15%.

during the year 2022, transactions with the CFA and the parties to the transaction.

Recall that amendments to the Tax Code regarding the taxation of transactions with crypto-assets can be adopted in conjunction with the draft law “On digital currency”, which provides for transactions with cryptocurrencies through Russian banks, the identification of crypto-portfolio holders and separation of investors by qualification.

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