Friday, March 29, 2024
HomeSECURITYThe Ministry of Finance plans to establish a tax on mining

The Ministry of Finance plans to establish a tax on mining

-


The Ministry of Finance plans to establish a tax on mining

Variants of an imputed tax – from 7 to 15% or income tax – 20% are being considered.

Ministry of Finance of Russia declared which considers it fair to tax profits derived from mining cryptocurrencies, as the tax code contains all the necessary provisions for this. At the same time, the bill on mining has not yet been approved by the State Duma, and the method of taxation is still being discussed in it. Possible options are an analogue of a single tax on imputed income with a rate of 7.5% to 15% or a profit tax of 20%.

Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, said that thousands of people work in the field of cryptocurrency mining, and many of them want to legalize their business. Already, there are companies and individuals who voluntarily pay taxes on transactions with cryptocurrencies. Mining companies are also approaching and willing to work in a legal environment, he added.

In Russia, there is currently no legislative regulation for mining activities, which causes difficulties, says Maxim Zelenevsky, Vice President of the Russian Association of the Cryptoindustry and Blockchain for Commercial Projects. He clarified that in this segment, only the so-called mining hotels pay taxes on the production of cryptocurrencies. They provide complex placement services for mining equipment, similar to conventional data centers. Such companies generally pay income tax of 20%

The introduction of income tax may have a negative impact on the market, lawyer Anton Kutushev believes. In his opinion, it is necessary to create an individual taxation system with different coefficients for different cryptocurrencies, given the differences in their production. Also, you need to take into account electricity tariffs when taxing mining, as the equipment consumes enormous amounts of electricity.



Source link

www.securitylab.ru

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular