Putin's new bill recognizes Bitcoin as property in Russia

Putin's new bill recognizes Bitcoin as property in Russia

From breakingthenews.net

Russian President Vladimir Putin signed a new law on Friday that deals with the taxation of digital currencies and officially recognizes Bitcoin and other digital currencies as property in Russia. The new bill is expected to take effect one month after its official publication, but not before the first day of the next tax period. According to the Tax Code, transactions made using digital currency will not be subject to value-added tax (VAT). The tax rate for incomes lower than 2.4 million rubles will be 13%, while those exceeding that amount will be taxed at 15% for individual traders. Traders whose volume exceeds ... (full story)

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