Russia: Government amends the Regulations for Digital Currency
The Russian Official Gazette released Law No. 324-FZ, which amends the tax laws governing digital currency.
The following changes have been made:
- Setting a unique process for taxing digital currency-related activities
- Establishing rules for revenue arising from digital currency transactions in terms of VAT, corporate income tax, and individual tax
- Revising the rules for withholding tax
- Evaluating the tax bases for different kinds of digital currency
- Providing tax rates for income derived through various digital transactions.
The rules governing digital currency officially came into force on 14 July 2022.
Source: publication.pravo.gov.ru
