Russia will exempt cryptocurrency exchange and custody services from value‑added tax, covering ancillary services related to issuance and trading of digital currencies. The bill, expected to be adopted by July 1 2026, also sets corporate tax rules for platform profits and allows traders to offset acquisition costs against income, though losses cannot be carried forward.
They will be exempt from VAT, covering ancillary services related to issuance and trading of digital currencies.
The bill is expected to be adopted by July 1 2026.
They will be subject to corporate taxation under rules similar to those for professional participants in the securities market.
Yes, they can reduce their tax base with acquisition costs and fees using the FIFO method, but losses cannot be carried forward.
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CoinSpot · 8 days ago
Russia is proposing to exempt crypto exchanges and custodial services from VAT, with the bill expected to be adopted by July 1 2026. The exemption covers digital rights confirming exclusively monetary claims but does not apply to profits, which will still be taxed under standard rules. Ordinary users will face a purchase limit of $3,700 per year and can only buy the largest coins listed by the Central Bank.
CryptoPolitan · 8 days ago
Russia is drafting a law that will exempt cryptocurrency exchange and custody services from VAT, while subjecting their profits to standard corporate tax. The bill also introduces new personal tax rules for crypto traders, limits retail purchases to $3,700 per year, and requires Russian residents to report foreign‑based crypto wallets to the Federal Tax Service.
Bloomberg Tax · 2 months ago
The Russian Federal Tax Service announced that the filing deadline for Q1 2026 VAT returns is April 27, 2026. Taxpayers must use a new form that reflects a VAT rate increase to 22% from 20%, along with other changes.
EADaily · 2 months ago
Russia’s Ministry of Industry and Trade has proposed a flat 22% VAT on all foreign goods, including purchases via online marketplaces, effective 1 January 2027. The proposal contrasts with a Ministry of Finance draft that would raise the rate gradually from 5% in 2027 to 20% in 2030. The announcement was made by Minister Anton Alikhanov at the Duma Committee on Industrial Policy on 11 February 2026.
The Moscow Times · 3 months ago
Russia increased its VAT rate from 20% to 22% on 1 January 2026, expanding VAT registration to more small businesses. The Finance Ministry expects the hike to bring an extra 3.2 trillion rubles in revenue, while businesses have already raised prices to offset the tax change. The move aims to close the fiscal gap caused by war spending and falling oil revenues.
VatCalc · 39 minutes ago
On 10 April 2026, Iceland announced a temporary reduction of fuel VAT from 24% to 11% to curb inflation. The cut applies from 1 May to 31 August 2026 and is backed by enforcement powers for the Competition Authority. The move is part of a broader anti‑inflation package that also includes price monitoring and investment in electric‑vehicle infrastructure.
