The State Duma passed a bill on the taxation of digital financial assets in its first reading.
According to the document the issue of digital financial assets and services of information system operators will be exempt from VAT. At the same time advisory services provided by the operators as well as services for granting rights for the use of computer programs are not exempt from VAT.
The companies operating on the territory of the Russian Federation that hold digital assets will have to pay 13% income tax, foreign organizations – 15%.
When digital assets are sold, the tax base will be determined as the difference between the sale price of such an asset, taking into account the amount of tax, and the purchase price of that asset, also taking into account tax. In determining the tax base for transactions with digital assets, income and expenses from all transactions with them for the reporting (tax) period will be taken into account.
The tax base for operations with digital assets will be determined by organizations together with operations with non-circulated securities and non-circulated derivative financial instruments and separately from the total tax base.