Russia Wants to Impose a Tax on Mining

The ideology of the blockchain and everything connected with the cryptocurrencies became increasingly popular for the media in the outgoing year. There is growing interest in the production of tokens and their trade on the relevant sites. The authorities of world countries have a different attitude for the issue of cryptocurrency market regulation from a complete ban to legalization and preferential taxation. A specific position is being formed in Russia, as various offers for the settlement of the cryptocurrency market periodically appear. So, in the Ministry of Finance they proposed to equate the miners with entrepreneurs and to impose taxes on this type of activity. Alexey Moiseev, Deputy Head of the Ministry of Finance, made such a statement.

“Mining (production of cryptocurrency) should be included to one of the types of entrepreneurial activity. This kind of entrepreneurship can deal with both individuals and enterprises of various forms of ownership”, the representative of the Ministry of Finance emphasized. Moiseev also noted that in the draft law on the regulation of the cryptocurrency market in Russia, there are no provisions regulating the procedure for taxing mining. In this regard, taxes from this type of activity should be levied in the manner stipulated by the current legislation.

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