Opinion: How the new tax regime in Russia will affect the users of cryptocurrencies
From 1 July next year in Russia can earn a new tax regime for self-employed that directly affect those involved in the cryptocurrency activity — mines of cryptomonad and sells scriptactive, as well as owners and customers online exchangers that work with cards and accounts of individuals. But here the Russian regulation faces the same issues as in any other country. Roughly speaking: how to treat everything that is associated with the cryptocurrency and bloccano?
If you look, from the tax point of view, Russia has all chances to claim the status of the country's most cryptocurrency-friendly activities. In Russia the rate of the tax to incomes of physical persons (pit) — 13%. It exists since 2001 and never increased. Moreover, for self-employed it is proposed to introduce a lower rate — as an option 3% in the provision of services to individuals and 6% when working with legal entities. All of this will run in a pilot mode in a number of regions, from the beginning of next year. If you look at personal income tax rate in other countries, the comparison is often not in their favor: in Japan it is 51%, in France — 50,3%, in Germany — 47,5%, in Britain — 45%, China — 45%, in USA — 39,6%, Turkey and India at 35% and 34%.
In the government project draws attention to the fact that it is assumed the payment of taxes through a special mobile application that once again underlines a course on the digitization of the economy. Now the question arises — how and what and why impose? A Russian court is not a precedent, but some of his decisions cryptocurrency is, and they are recognized as de facto property. In this case, the question may arise about the property tax. That kryptonite is not money in Russia, precisely defined, there is consensus between the Ministry of Finance and the Central Bank of the Russian Federation. Is this a security? In the State Duma is now three bills on the cryptocurrency, and the pass shares the concept of "cryptocurrency" and "tokens". The latter has the properties of securities and the first — only digital record, having the features of the property.
Another important question that arises is tax administration. In the US, the crypto currency exchange Coinbase send the Declaration to its customers. In Russia, this will be impossible, as do the crypto currency exchange will be the almost all outside the law: compliance with the existing law on storage of personal data will require them to store customer data on servers in Russia and to have the registration address is not in offshore. This means that Russia will need its cryptocurrency platform, the type of MICEX, or the Moscow cryptocurrency exchange (MKB). Now she has to collect information about customers and their transactions, and to send them e-mail templates of tax returns. In the same way will be built and ICO all the activities of the organizations which will produce tokens that will be under the control of the Central Bank of the Russian Federation. Among the "Goodies" of this approach is the possible inclusion of the investor in tokens to the insurance system of the financial market by analogy with the Deposit insurance Agency.
Tax regulation of activities of the cryptocurrency is currently experiencing the emergence of almost all countries. So, according to the first proposal of the Polish Ministry of Finance, it was proposed to impose a tax on the income from cryptocurrency activity in the form of a fork, 18 to 30%, but in the end, at the moment, Warsaw refused to introduce any taxation. The main reason is the need to clearly define the concepts. The same needs to be done and Russia.
Vladislav Ginko, economist, expert at the Russian public service Academy at the President of the Russian Federation, especially for Coinspot