Russia Tax Agency Announces New VAT Rules for Digital Currency Transactions

The Russian Federal Tax Service Dec. 23 announced new VAT rules for digital currency transactions, effective Jan. 1, 2025, under Tax Code amendments enacted by Federal Law No. 418-FZ/2024. The law includes measures: 1) specifying that the mining and sale of digital currency aren’t subject to VAT; and 2) providing a VAT exemption for sales of services by authorized organizations that ensure the conclusion of digital currency transactions under the framework of the experimental legal regime with respect to digital innovations. [Russia, Federal Tax Service, 12/23/24]

Reference:
View Announcement. View Announcement Index. View Law No. 418-FZ, Official Gazette ...