📋 Tender Overview
If it is received for more than 2.4 million rubles per year, the personal income tax rate of 15% will be applied to the excess. At the same time, miners will have the right to deduct expenses.
The State Duma today adopted in the third reading a bill on taxation of digital currency mining ( 1065710-7 ). It is established that digital currency , including that used as a means of payment in foreign trade settlements, is recognized as property. Mining infrastructure operators will have to report to the tax authorities information about digital currency mining by the person to whom the operator provides services. Failure to fulfill this obligation will threaten the operator with a fine of 40 thousand rubles.
Mining operations will not be recognized as an object of VAT taxation - a corresponding subparagraph is added to paragraph 2 of Article 146 of the Tax Code.
Income in the form of digital currency obtained as a result of mining in Russia will be classified as income from sources in the Russian Federation for personal income tax purposes. Such income will be taken into account in the same group of tax bases as transactions with securities, digital financial assets, dividends, income from the sale of property, and interest on deposits. The tax rate will be 13% for cases where the tax base does not exceed 2.4 million rubles per year, and if it exceeds this amount, the rate will be 15%.
Each such tax base will be determined separately (including digital currency will be taken into account separately and to move to a higher rate it is enough for the limit to exceed the cost of the digital currency itself). Let us recall that changes in the personal income tax scale are being introduced from 2021 by Law 176-FZ, which was signed this summer. The specified income in the form of digital currency will be reduced by a property deduction in the form of actually incurred and documented expenses related to mining.
It is established that the value of digital currency for personal income tax purposes will be determined based on the market quotation of such currency in the manner established for income tax. The market quotation will be the closing price calculated by the foreign trade organizer for transactions made through it during the trading day. Other details are also established, including requirements for such organizers (whose quotations can be taken into account).
The date of actual receipt of income in the form of digital currency will be the date on which the miner acquires the right to dispose of such digital currency, including by crediting it to another person's account. This will apply to both personal income tax and profit tax.
For income tax purposes, mining expenses will be recognized as indirect expenses. Losses from previous years on digital currency transactions can be attributed to a reduction in the tax base for digital currency transactions, calculated separately from the general tax base for income tax.
Miners will not be able to use special modes.
