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In Russia, a proposal has been made to exempt cryptocurrency exchanges from VAT., 2026/04/04 08:48:50
The Ministry of Finance of Russia has drafted amendments to the Tax Code that aim to exempt cryptocurrency exchanges and digital asset storage services from VAT. This information was reported by Interfax, citing sources.
The proposed legislation seeks to broaden the list of operations exempt from value-added tax as outlined in Article 149 of the Russian Tax Code. It is intended to include services provided by digital depositories and organizations engaged in the exchange of digital currencies. The sale of software licenses will not qualify for this exemption.
Additionally, it is suggested that several ancillary services related to the issuance and circulation of digital currencies be exempt from VAT. The Ministry of Finance will determine the specifics of this list.
Revenues generated by these organizations will still be subject to profit tax. The draft law aligns with existing regulations for professional participants in the securities market (Articles 298 and 299 of the Russian Tax Code). The following will be taxable:
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commission income;
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income from the storage of digital assets;
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intermediary revenue;
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other operational receipts.
The introduction of special preferential rates for cryptocurrency transactions is not included — they will remain under standard tax regimes.
For individuals, separate taxation rules are proposed. Tax will be levied on profits from the sale or exchange of digital assets. The tax base can be reduced by documented expenses, including costs for acquiring cryptocurrency and fees.
The draft law also allows for the offsetting of profits and losses within a single tax period; however, the carryover of losses to future periods is not permitted.
The role of tax agent is proposed to be assigned to intermediaries, including brokers and management companies. If digital assets are held in their accounts, they will be responsible for withholding and remitting the tax to the budget.
Previously, the Russian government submitted a bill to the State Duma requiring Russian residents to notify the tax service about foreign cryptocurrency wallets starting from July 1.
