- Russia approved a proposal to tax income from cryptocurrency transactions, using the first-in, first-out method for cost accounting.
- Losses from cryptocurrency transactions cannot be carried forward to future tax periods.
- Services by digital custodians, crypto exchanges, and certain foreign digital rights transactions are exempt from value-added tax.
- Special tax rules apply to debt-related digital financial assets, allowing loss carryforward.
- The bill gives the Russian Central Bank authority over exchanges and market access, and sets limits on citizens’ cryptocurrency purchases.
Source: binance.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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