Markets news | The State Duma Committee recommended the draft law on taxation of digital currency for the 1st reading

The State Duma Committee on Budget and Taxes recommended the adoption of a government bill in the first reading, which recognizes digital currency as property, introduces its mandatory declaration.

chairman of the committee Andrey Makarov:

The topic is the most important, we have, in essence, through digital currency, financing of a variety of things is obviously perfect and there is a turnover that is not controlled in any way, tax evasion and whatever... Here the relevance of the topic is certainly important.

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The bill contains amendments to the Tax Code, according to which transactions with "digital currency" are subject to mandatory declaration over 600,000 rubles per year, a The Federal Tax Service will have the right to demand from banks statements of individual accountsif transactions on the accounts are related to the transferdigital currency and there are signs of a possible violation of tax laws. For the purposes of applying the Tax Code, it is proposed to recognize digital currency as property.

For the second reading, the deputies recommend clarifying the basic law on digital financial assets.

Last week, the Council for Codification andimprovement of civil legislation under the president did not support this bill. The council decided that the use of the concept of "digital currencies" in tax legislation would create uncertainty in the tax regime for a huge number of Russian economic entities and problems in law enforcement practice.

Pavel Krasheninnikov, Chairman of the State Duma Committee on Legislation, said that the establishment of a tax regime for digital currencies is possible only after inclusion in the Civil Code (HK) the very concept "digital currency", even if its civil turnover is limited.

For failure to submit a report about operations and balances of digital currency or submission of false information is subject to a fine at the rate of ten% from the largest of the two amounts in ruble equivalent - receipts or write-offs of currency, information about which was not provided, for violation of the deadline for submitting information - a fine of 50,000 rubles... If the taxpayer did not include in the tax base profit or income from operations, settlements for which were carried out using digital currency, it was proposed to imposea penalty of 40% of the amount of unpaid tax in relation to such transactions.

The State Duma will consider the document in the first reading at a meeting February 17.

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