The Russian government has proposed a draft bill to tax income from cryptocurrency trading at 15%, as well as expenses from crypto transactions and mining. The bill would categorize cryptos as ‘property’ for tax purposes, with income from crypto mining taxed depending on its market value at the time of receipt.
Miners would be allowed to reduce expenses related to mining operations from their taxable income. Crypto transactions would be exempt from value-added tax, with the tax on income from trading being the same as income from securities transactions, with a maximum personal income tax rate of 15%. The draft amendments also tighten compliance norms, requiring mining operators to report information on individuals using their infrastructure.
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<p>The post Russia Approves Crypto Tax Bill: 15% on Crypto Trading & Mining Income first appeared on CoinBuzzFeed.</p>
