TechFlow News: On April 28, according to Bits.media, Russia’s Government Legislative Committee approved a proposal by the Ministry of Finance to include cryptocurrency-related activities—including cryptocurrency exchanges—within the scope of personal income tax (PIT) collection. The draft law stipulates that transaction costs must be calculated using the FIFO (First-In, First-Out) method and prohibits carrying forward losses from cryptocurrency transactions to future tax periods. Meanwhile, certain services and transactions would be exempt from value-added tax (VAT), including those provided by digital custodians and cryptocurrency exchange services, as well as certain foreign digital rights transactions involving no physical delivery. For debt-type digital financial assets (e.g., tokenized bonds), the draft law establishes separate rules for calculating profit tax and permits loss carryforwards.
Previously, Russia’s State Duma had passed the “Digital Currency and Digital Rights” bill at its first reading.
