- The Russian Federal Tax Service announced new VAT rules for digital currency transactions starting January 1, 2025
- The rules are based on amendments to the Tax Code by Federal Law No. 418-FZ/2024
- The law states that mining and selling digital currency are not subject to VAT
- It also provides a VAT exemption for services related to digital currency transactions by authorized organizations under an experimental legal regime for digital innovations
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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