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Taxation of cryptocurrencies in Russia
On January 1, 2021, the law "On Digital Financial Assets" came into force. Now it is recognized as property. You can't pay with it, but you can make deals with it.
Tax calculation formula
This year, individuals declare only income from the sale of cryptocurrencies.
Income from the sale of cryptocurrencies, minus the cost of buying this cryptocurrency (even if it was purchased more than a year ago) and the difference is multiplied by the personal income tax rate of 13%.
How to file a tax return?
By April 30, it is necessary to submit a tax return for 2020 to the tax authority at the place of registration (in person or by mail) or through the taxpayer's personal account on the FTS website. The tax must be paid by July 15.
What happens if you don't pay?
You will get a fine in the amount of 5% of the amount of tax unpaid within the time period established by the legislation on taxes and fees, for each full or incomplete month from the date set for its submission, but not more than 30% of the specified amount and not less than 1000 rubles.
If the unpaid amount of personal income tax for three financial years exceeds 2.7 million rubles, an individual may be criminally liable for tax evasion (liability under Part 1 of Article 198 of the Criminal Code of the Russian Federation – up to imprisonment for up to 1 year). If the unpaid amount for three financial years exceeds 13 million rubles, it threatens three years in prison.
If the unpaid amount of personal income tax for three financial years exceeds 2.7 million rubles, an individual may be criminally liable for tax evasion (liability under Part 1 of Article 198 of the Criminal Code of the Russian Federation – up to imprisonment for up to 1 year). If the unpaid amount for three financial years exceeds 13 million rubles, it threatens three years in prison.
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