Module III·Article V·~1 min read
Crypto Assets and Taxation of Digital Assets
Taxes on Investment and Capital
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Legal Status of Crypto Assets
The status of cryptocurrencies in various jurisdictions differs:
Russia (Law on DFA, 2021): cryptocurrencies are property. Not recognized as legal tender. Mining is permitted (with notification, tax on income). Circulation — in the “gray” zone for settlements.
USA: cryptocurrencies are property. The IRS taxes each transaction (exchange, purchase of goods) as a property disposition.
UAE: no personal income tax. VASP licensing (Virtual Asset Service Provider) through VARA (Dubai) or FSRA (ADGM). One of the world’s centers for crypto business.
EU: DAC8 — directive on the automatic exchange of data on crypto transactions (starting in 2026).
Taxation of Cryptocurrency Transactions in Russia
Personal Income Tax: income from sale/exchange of cryptocurrency = market value in rubles on the date of receipt minus purchase costs. Rate: 13%/15%. Declaration — form 3-NDFL to be submitted independently.
Mining: income from mining — PIT or CIT at the moment of receiving coins (market value). Expenses (electricity, equipment) reduce the tax base.
Difficulties: lack of a liquid ruble market for a number of coins; the issue of determining “market value”; absence of tax agents.
Practical Exercise
An individual — a Russian resident — in 2023: (1) bought 1 BTC for 2 million rubles, (2) in 2024 sold it for 5 million rubles. Also: received 0.5 ETH as payment for freelance work (value at date of receipt — 100,000 rubles), sold ETH three months later for 150,000 rubles. Calculate the PIT.
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