Citizens of the Russian Federation began to declare income from operations with cryptoassets – Bits Media

Large consulting and legal companies have recorded an increase in the submission by Russians of reporting income from cryptocurrency transactions. According to experts, This is due to the tightening of regulation.

According to the publication of Izvestia with reference to the data of companies KPMG, PwC, FTL Advisers, Borenius, as well as the Center for Strategic Development (CSR), In recent months, the Russians began to withdraw their income from cryptocurrencies from the shadows to pay personal income tax. Partner FTL Advisers Maria Doll noted:

“We are observing, that Russian residents began to voluntarily reflect income from operations with digital assets (Mostly with cryptocurrency) In tax returns ".

However, the trend is not yet massive and early talk about that, that most of the owners of cryptocurrencies want to declare their income. By law, taxpayers must submit a declaration of income before 1 May. During April, the number of cryptocurrency owners, wishing to pay personal income tax, can grow, Especially by the end of the month.

The increase in the number of declarations with the mention of income from cryptocurrencies is also noted by the director of the individual taxation department of PWC in Russia Evgeny Sivushkov. In his opinion, This may be due to the adoption of the Law "On Digital Financial Assets" last year, with the adoption of the law on electronic assets 1 january.

According to the head of the direction "Legal Development" of the CSR Maxim Bashkatov, The law has a "bad place" – Crypto -activists can count on judicial protection only in the case of their declaration. At the request of Izvestia, the Federal Tax Service explained, that the procedure for taxation of income of individuals from transactions with crypto actures in general has already been clarified. The Federal Tax Service referred to the letter of the Ministry of Finance No. 03-04-07/33234 from 17 May 2018 of the year.

“The tax base for the surgery of cryptocurrencies is determined in rubles as an excess of the total amount of income, received by the taxpayer in the tax period from the sale of the corresponding cryptocurrency, over the total amount of documented expenses for its acquisition ".

KPMG partner in Russia and the CIS Donat Lesse drew attention to the fixation of any non -cash operations when buying or selling crypto assets in the history of the organization, which conducts them. The tax service can access these data, Even if transactions were carried out outside Russia.

According to Maxim Bashkatov, It is still unclear, how to calculate the tax and declare crypto assets. There are no official cryptocurrency exchanges in Russia, on which it would be possible to determine the cost of a crypto acting when buying and selling. Besides, Personal income tax is paid in rubles, Therefore, the question arises correctly to determine the price of cryptocurrency in relation to the ruble.

As notes Sivushkov, Since the bill of amendments to the Tax Code regarding the taxation of digital currency has already been approved by the State Duma in the first reading, More and more cryptocurrency owners will begin to “gain” their income in the near future. However, additional explanations from the Ministry of Finance and the Federal Tax Service in relation to the rules for taxation of these operations will be necessary.

Recall, that changes to the Tax Code suggest
oblige citizens to declare surgery with cryptocurrencies. The Federal Tax Service is not going to change this paragraph of the bill even after criticism of experts.