Russian Government has elaborated a draft law on taxation of cryptocurrencies.
In accordance with amendments to the Tax Code, if the annual cryptocurrency turnover exceeds 600.000 rubles (approx. 7.000 euro), a corresponding report shall be filed to the tax authority.
The report shall include information about cryptocurrency transactions and the amount of remaining cryptocurrency.
The first annual report shall be filed not later than on April 30, 2022 with regard to cryptocurrency operations in 2021.
Cryptocurrency is acknowledged property. Cryptocurrency operations shall be taxed with income tax, but will be free of VAT.
A penalty for non-reporting, late reporting, false reporting, or non-payment of the tax is introduced by the draft law.