PANews April 28 news, according to Bits.media, the legislative activity committee of the Russian government has approved the proposal for taxing income from cryptocurrency transactions submitted by the Ministry of Finance. The document stipulates that transactions, including cryptocurrency exchanges, are subject to personal income tax, with the cost accounting using the first-in, first-out method. The bill prohibits the carryover of cryptocurrency trading losses to future tax periods. At the same time, services from digital custodial institutions and cryptocurrency exchanges, as well as certain offshore digital rights transactions that do not involve actual delivery, will be exempt from value-added tax. For debt-type digital financial assets such as tokenized bonds, the bill specifies a special tax calculation method and allows for loss carryover.

Previously, the Russian Duma had passed a first reading of the government-submitted bill on "Digital Currencies and Digital Rights," which will empower the Central Bank of Russia to approve access to exchanges and markets and set citizen limits on cryptocurrency purchases.

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