1. Russia’s Government Commission Approves Finance Ministry Proposal to Impose Personal Income Tax on Crypto Transactions link

The Russian Government’s Legislative Activities Commission has approved a Ministry of Finance proposal to impose personal income tax (PIT) on earnings from digital currency transactions, including crypto exchange trades. The draft stipulates that costs be calculated using the FIFO (First-In, First-Out) method and prohibits carrying forward crypto trading losses to offset future tax periods. It also proposes VAT exemptions for services provided by digital depositories and crypto exchangers, as well as certain foreign digital rights transactions without physical delivery.

2. South Korea’s National Tax Service…