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2024-06-29 01:40:17 +0300

Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales

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By Cointelegraph

Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales

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The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in the Russian Federation. Some other services of digital asset exchanges will also be exempted, according to state-run news service RIA Novosti.

In addition, the bill established income tax rates of 13% for Russian exchanges on the first 5 million rubles (currently about U$93,000) of the taxable base annually, 15% on amounts above that limit and 15% across the board for foreign exchange operators. The current tax rate for companies is 20%.

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