Taxation

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Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament

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A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market for digital assets. Russian Deputies to Review Law on Crypto-Related Taxation The federal government of … Read more

Kazakhstan to Increase Tax for Miners, Considers Tying Levy to Crypto Prices

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The government of Kazakhstan is preparing to increase the tax burden for cryptocurrency miners and intends to tie the new rate to the value of the minted cryptocurrency. The authorities in Nur-Sultan believe that such an approach would have a positive effect on the state budget. Miners in Kazakhstan to Pay Tax on the Value … Read more

Ukrainian Parliament Adopts Amended Virtual Assets Law

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Ukrainian lawmakers have approved an updated version of legislation tailored to regulate the country’s crypto economy. The bill, which was first passed last year, was later returned to the legislature by President Volodymyr Zelensky who requested some changes. Majority of Ukrainian Deputies Back Law ‘On Virtual Assets’ Verkhovna Rada, Ukraine’s parliament, has adopted new legislation … Read more

Russian Government Approves Plan to Regulate Cryptocurrency

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The federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under state oversight, introduce strict obligations for market participants, and ensure investor protection. Russian Authorities Move to Legalize Crypto Economy The Russian government “has determined the … Read more

Russian Government Eyes $13 Billion in Taxes From Crypto Economy

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Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles to Enter State Coffers as Crypto Taxes, Russian Analysts … Read more

Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining

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Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining Companies in Kazakhstan Expected to Pay Much More … Read more

Russians Mining Crypto to Pay at Least 15% Tax, Companies – No Less Than 6%, Lawmaker Says

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Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital currencies is yet to be regulated in Russia, authorities lean towards recognizing it as an economic activity, which will allow the government to tax mining … Read more