There Will Be No New Tax Code for Cryptocurrency in Russia

July 19, 2018

Chairman of the State Duma of Russia Committee on Financial Market Anatoly Aksakov said, that the government will not develop new tax legislation for cryptocurrency owners and other citizens. All activities with digital currencies will continue to proceed under the current Tax Code. 

Individuals who receive income from digital currencies will pay a personal income tax. Entities will pay a tax on a particular form of activity. 

Aksakov added, that he does not exclude the possibility that a certain bill will be drafted for cryptocurrency, although he notes, that it will take some time to develop this bill, as the government must give legal definition of cryptocurrency terminology first.

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