The Ministry of Finance of the Russian Federation explained how to pay taxes with cryptocurrencies
Source:
The crypto currencies yet are not mentioned in any law of the Russian Federation, with officials already want to introduce taxation for cryptoendoliths. Due to multiple gaps in the laws to determine the order of payment of taxes difficult, however, the Finance Ministry recently gave an approximate description of the process.
theit's Time to pay the government
Officials acknowledge that the tax code of the Russian Federation there is no mention of digital assets. Now they are not recognized as legal tender on the territory of Russia, therefore, they can not levy taxes.
For operations with Bitcoin Althingi or not the applicable rules of civil law and property tax deduction. Recall that the category of the latter is the exemption from personal income tax on income from the sale of property, which the citizen owned more than three years. Cryptocurrencies are not considered property, so they cannot be attributed to any category in the laws.
How to file a tax return? Fortunately, while investors and traders do not require anything directly. The Ministry of Finance assumed that the appropriate tax base can be determined based on the difference between the proceeds from the sale of crypts and the cost of its purchase.
While in office only «I suppose it's possible» to consider the economic benefits from the crypt of the object of taxation. About it the Ministry of Finance has notified the subordinate service in early June in a letter №03-04-07/33234.
Who should take control of the whole process? Responsible citizens who make cryptocurrency transactions. They have to control their profit from digital assets and put it in a tax return. However, in practice such a scheme does not work at all, therefore, domestic investors prefer not to pay any penalties from the crypt the state.
image Source — Region16
Hopefully, more clarity in the law "On digital of financial assets". It should take the deputies of the state Duma in the first quarter of 2019.
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