26.02.2024

The State Duma plans to lower the minimum threshold for taxation of cryptocurrencies

The authorities of the Russian Federation can adjust the limit for transactions with cryptocurrencies, above which taxation of holders of digital assets is introduced . Now this limit is 600,000 rubles a year, but earlier the Ministry of Finance did not rule out its reduction if necessary.

Now the State Duma also announced that it is necessary to lower the threshold for the amount of transactions with cryptocurrencies , so that the list of taxpayers for the state will expand.

This was stated by Anton Gorelkin, a member of the State Duma Committee on Information Policy.

In his  Telegram channel,  Gorelkin drew attention to the rise in the price of the first cryptocurrency above $ 60,000 .

“Before our eyes, it is becoming a driver not only of the shadow economy, but also an independent non-state means of payment as a whole ,” the deputy wrote.

Gorelkin recalled that the first attempt to regulate the turnover of cryptocurrencies within the framework of the Tax Code has started, and tax authorities will consider them as property .

“Accordingly, the tax consequences will be the same as for transactions with the sale and purchase of property – that is, either personal income tax or income tax. Control will be carried out on requests for information from banks, not within the framework of tax audits. Those people, from whose bank accounts money is debited in favor of crypto-exchanges, will obviously fall under the control of tax authorities, ” he added.

The parliamentarian noted that now it is proposed to oblige Russians to declare operations with cryptocurrencies if the annual turnover on them exceeds 600,000 rubles.

“But this is a debatable issue: the threshold can be changed ,” he stressed.

Earlier, the Ministry of Finance announced the possibility of lowering the threshold for the declaration of cryptocurrencies. On February 17, in the first reading, the State Duma approved a bill on taxation of digital assets.

Leave a Reply

Your email address will not be published. Required fields are marked *