Airdrop Army

Alright, Russia just locked in some fresh rules for taxing the crypto world, and it’s not playing around. This ain’t just talk – this plan got signed off by big wigs in the Ministry of Finance, with nods from the Ministry of Digital Development, Ministry of Energy, and the almighty FNS (aka Federal Tax Service). They’ve finally put crypto under the “property” label, so it’s like, officially something real. Miners and hodlers, you’re up next.

Who’s Gotta Pay and How Much They’re Coming For

So, here’s how this cookie crumbles. Regular folks who mine? Chill out, no need to register in the official FNS registry, as long as you’re not burning through more than 6,000 kWh a month on power. But companies and any solo entrepreneurs looking to mine? They’re getting the big government spotlight – registration’s mandatory, and they’re gonna have to spill the beans on any crypto transactions over 600,000 rubles a year to the FNS.

Starting 2025, they’re bumpin’ up the tax heat on legal entities – we’re talking profit tax jumping from a nice 20% to a crispy 25%. For individuals, income tax is going turbo with five tiers instead of the basic 13% and 15% rates, topping out at a spicy 22% for the high rollers. Silver lining? They’ve given crypto operations a pass on VAT. No VAT tax at all – one small win, yeah?

Mining Operators: Get Ready for the FNS Radar

Mining infrastructure operators, you’re in the line of fire now, too. They’ll have to keep track and report all services to the FNS. Slack on the reporting? That’s an easy 40,000 rubles fine on your tab. And when it comes to tax payments, FNS ain’t making it easy. It’s a two-part show: there’s an advance tax bite right when the crypto lands in your wallet, followed by a second round when you actually cash out. If the coin value went up while sitting pretty in your wallet, get ready to fork out extra tax. But if it tanked? You can mark that loss down, lucky you.

And, hey, a little relief for miners with legit receipts – you can get some deductions back if you can prove those mining expenses. But only if you kept your receipts tight and clean.