Mining
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The State Duma said that taxes would be collected from miners in the same way as from the rest of the business
Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, explained that the taxation of miners in Russia will be carried out by analogy with the rest of the business and will depend on the form of its registration. It is reported by “Kommersant”.
According to him, this is expected as part of the bill on the legalization of cryptocurrency mining.
“All the rates, which are, will be valid for the analogue of the single tax on imputed income or income tax. Nothing special, the same business, so the rates should work as for everyone. If on imputed income, then the form of business registration is entrepreneurship without forming a legal entity … Everything is within the framework of the tax system. And if the miner is registered as an individual entrepreneur, then he will pay as an individual entrepreneur,” said Aksakov.
At the same time, he noted that the Russian government has not yet submitted an official response to the bill, it is under consideration.
The Ministry of Finance of the Russian Federation has already supported the levying of a tax on profits received from the mining of cryptocurrencies, noting that the Tax Code contains all the necessary provisions for this. However, according to Aksakov, the form of taxation under the mining bill is still being discussed. It is assumed that they will establish either an analogue of a single tax on imputed income, where the rate varies from 7.5 to 15%, or a profit tax of 20%. In addition, he said that now there are already companies and individuals who voluntarily pay taxes on transactions with cryptocurrencies.
However, the draft law on the legalization of mining in Russia is still being discussed. Deputy Minister of Finance of the Russian Federation Aleksey Moiseev said that the bill again “stalled” due to disagreements not only with the Central Bank of Russia, but also with law enforcement as well. There are now plans to hold a series of meetings on this issue.
The project has been discussed for several months after it was put forward for consideration by the State Duma in mid-November. Some provisions have been criticized by market participants and regulators.
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