Russian government is discussing taxation of cryptocurrencies that could be equivalent to property and subject to income tax

On February 11, the Russian government is discussing taxation of cryptocurrencies. Ivan Chebeskov, head of the Financial Policy Department of the Ministry of Finance, said that cryptocurrencies may be equivalent to property and subject to income tax. Ivan Chebeskov said: “There are many questions about taxation. Taxation is related to individuals, legal entities. Mining taxation is a separate topic. Generally speaking, it is assumed that digital currency will be equivalent to some kind of property. And as property, for example, if you use It earns income, it will be taxed.” In addition, Ivan Chebeskov said that the question of whether there will be a transition period is under discussion, noting that the bill regulating cryptocurrencies will be ready and submitted to the government by February 18.