Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales
Cointelegraph
Published Jun 28, 2022 04:15PM ET
Updated Jun 28, 2022 06:40PM ET
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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Written By: Cointelegraph
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